The price chart of the current altcoin market is very similar to the early bitcoin price chart and could signal that anyone who buys the current decline in the crypto market could end up generating life changing wealth from their investment.
The life changing altcoin market follows the early bitcoin market cycle
When Bitcoin was first released into the wild, no one knew what the asset or the technology was, and it was practically worthless. But those who bought the first big drop in Bitcoin may have seized the greatest financial opportunity ever … until now.
According to a cryptocurrency analyst who compares the trajectory of early bitcoin to the price chart of total altcoin market cap, the price action on both charts is extremely similar.
Related reading | Altcoin market with the highest purchase volume in crypto history at its lowest point
The analyst says that those who are currently buying the altcoin dip, much like they did in the early days of Bitcoin, will make “life-changing fortunes” from here.
#Altcoins perfectly follow the early cycles of 2011-2012 bitcoins.
– This is where life-changing wealth is created.
– The volume profiles are exactly the same.
– Colored boxes showing the repetition of human emotional cycles.
– I expect a double bottom breakout. pic.twitter.com/bDsnRqsIAZ
– Highaltitudeinv (@HighAltitudeInv) January 22, 2020
The analyst even points out that the recent explosion in purchase volume on the weekly altcoin market price chart shows “exactly the same” volume profile as the early bitcoin.
Colored boxes have been added to the chart to represent a repetition of human emotions, which many financial market theories believe are cyclical.
The charts also show a double-bottom formation that the analyst expects the altcoin market to break out soon and go through a massive wealth-creating rally that could change the lives of crypto investors everywhere.
Is the crypto winter finally over?
The altcoin market experienced a breakout last month that resulted in an upward trend of over 50% in 30 days or less.
The breakout was accompanied by the largest increase in purchase volume on the weekly altcoin price charts, possibly suggesting that the bottom has been hit.
The volume is said to precede the price in financial markets like bitcoin and cryptocurrencies, and the surge in altcoin purchase volume could be a sign that prices will soar again.
During the 2017 crypto bubble and bitcoin bull run, many altcoins rallied and achieved an ROI of over a few thousand percent for investors. But the bubble eventually burst and those assets fell as much as 99% in some cases.
Even Bitcoin, a more established cryptocurrency, fell over 80%.
Related reading | Altcoin market prepares for shocking disbelief rally, according to Wall Street cheat sheet
The even more speculative altcoins have suffered worse, but after such a deep drawdown period and oversold conditions, could be ready to take off and surprise crypto investors with how fast and strongly they are moving back into an uptrend.
After two full years of a bear market, altcoins could finally be ready to grow again. If not, altcoin prices may never return to previous all-time highs and could be viewed as a failed experiment by the larger technology and finance industries.
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