Many Low Cap Alts Are in an Uptrend, That is Encouraging

Although most of the major coins are so stagnant they are stable, many low cap alts have been in an uptrend or even “mooning” recently.

On one hand we have a few large caps (large market caps) doing well, like XRP, Doge, and MKR. That itself is rather bullish. However, almost more importantly we have a lot of low caps in uptrends and/or seeing rapid price increases.

EDR, MFT, VERI, PMA, NEXO, UKG, RVN, GO, have all had impressive upward movements, while countless more appear to potentially have bottomed and begun an uptrend (or have at least stagnated above recent lows; one example being XVG).

Not only that, but its rare to find any coin in the top 200 or so by market cap that is at its all time low in BTC, ETH, or USD right now (they are out there, they are rare though).

This doesn’t necessarily mean anything positive for the future, 10 months of bear market has me very wary of making any bullish calls and instead fills me with a good bit of bearish bias and doubt… but that said, it is encouraging to see some bleeding stop, some uptrends start, and some solid crypto runs happening again.

I really haven’t seen a market like this since fall of 2017, and we all know what happened in winter of 2017.

Heck though, even fall of 2017 was a fun and exciting time. When there is a chance that some alts will do well, and when you are risking 50% drops and not 99.9% drops on average, it is a lot more fun to try to hunt for great projects and great returns in the crypto space.

NOTE: To be clear, what happened in winter of 2017 was that almost every coin in the top 200 or so by market cap ended up “going to the moon” and especially quality projects preformed very well. I’m not saying there wasn’t lots of room for pain, there was, I am only saying… winter 2017 was epic. Let us all pray to the whale gods that the next alt season be a fruitful one.

Author: Thomas DeMichele

Thomas DeMichele has been working in the cryptocurrency information space since 2015 when was created. He has contributed to MakerDAO, Alpha Bot (the number one crypto bot on Discord),...

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