The crypto market is a market filled with emerging assets that utilize a new, unproven technology that is many years off from having a valid use case that is applied to daily life. Because of this, accurate valuations of Bitcoin and altcoins are difficult to come by, and most rises in price are driven by exclusively by speculation and hype. Thus, oftentimes the newest and most hyped coins experience the fastest growth, and the situation is only amplified during a FOMO-fueled bull run.
With the bear market now behind us, crypto investors are eyeing filling their bags with some of the newer altcoins that emerged during the crypto winter, and have only known a bear cycle thus far. These altcoins that have never known a bull run are expected to go into “price discovery mode” once the bulls begin to really pick up momentum, and are expected to be the top performers of the next bull market cycle by crypto analysts and traders.
Filling Bags Ahead of the Next Crypto Bull Run
Over the last few weeks, Bitcoin has continued to rally higher, while the altcoin market bled out. While most major high cap altcoins are primed for a breakout and potentially a full blown alt season, but have suffered significantly in their value relative to Bitcoin.
$BTC nears the support area of $8.66K.
This is unnerving many traders – seeing the Large top Alts dropping by an average of – 2%.
With the rest all down by 3%.
— Mikaeel (@fintechdaddy) May 29, 2019
During the altcoin carnage, however, a handful of new cryptocurrencies started to show off their bullish potential – namely, HoloChain, Mainframe, and the Binance Launchpad IEO coins: Matic, BitTorrent Token, Fetch AI, and Celer Network.
Born in the Bear Market, bathed in blood. These 4 fan favorites have never been in a BullRun. The mind boggles
— Kyle MacLeanX (@KyleMacLeanX) May 29, 2019
The hype and low price of these cryptocurrencies has investors in a buying frenzy. All of the Binance initial exchange offering (IEO) born coins have also performed handsomely for investors, who have seen significant profits since their launch. An IEO is a new crowdfunding platform that leverages an exchange’s reputation to provide investors with more confidence and support than a “traditional” ICO. Binance was among the first to launch an IEO platform and it has brought much demand to the platform’s native BNB token.
Watching LTF trend changes to gauge the momentum. pic.twitter.com/vYFifPAcAM
— HaXatoshi (@Haxcrypto) May 27, 2019
Matic Network alone did an “11x move” following its launch on Binance launchpad, and BitTorrent Token has been on a tear over the last week.
$MATIC is looking pretty good here after the retracement from that 11x move. Volume is declining but STILL in the top ten. This wasn't just a one-off pump and I believe the #IEOs still have at least one solid rally left. $FET $CELR $BTT $ONE #MATIC #binance #binancelaunchpad pic.twitter.com/CbHTbBASTQ
— Matthew Teeter (@MattTravas) May 29, 2019
Crypto investors cite the silliest of reasons for why these coins are garnering notable interest compared to other assets, including noting that HoloChain’s “cashtag” symbol being $HOT is enough to catch the eyes of retail investors. While the analyst is almost certainly joking, there’s much truth to the hive mind mentality chasing the shiniest, newest thing – in this case HoloChain.
$HOT has one of the best cashtags in crypto
Easy top 10 marketcap based on that alone
— Moon Overlord (@MoonOverlord) May 29, 2019
Others say it’s due to the fact that these cryptocurrencies are from a small subset of newer altcoins that have yet to experience a crypto market bull run.
Altcoins Born in Bear Market to Enter Price Discovery Mode
The term “price discovery” is used often with newer altcoins that haven’t been traded for as long as say, a Bitcoin or Ethereum. Because there are less investors, less time, and less chart history for traders to work with, the price of these assets can often go a little bonkers as investors trading the asset back and forth try to establish a fair market value for the asset.
When the bull fully returns and everyone in no-use-case alts finally breaks even again their sell side resistance near ATH will be enormous.$RVN has only known a bear market, it will be price discovery mode for #Ravencoin when everyone is taking profit in their dead end bags.
— 𝚗𝚊𝚖𝚎 (@name_elsewhere) May 28, 2019
The aforementioned cryptocurrencies are prime candidates for such price action to occur, as feverish investors have yet to trade the crypto assets during a bullish trend.
Related Reading | Why The Next Bitcoin Bull Run Could Eclipse The Last Crypto Bubble
Another altcoin that has yet to pop alongside HoloChain and the Binance IEO coins, but is yet another cryptocurrency with much hype and hasn’t experienced a proper bull run is Ravencoin.
#Ravencoin was born into a bear market and has fought its way to the top 50 with best return in 2019.
— The Raven of Wall Street (@rvncoin) May 17, 2019
Crypto analysts expect Ravencoin to be among the top performers during the next bull run, noting it for the fact it was born during a bear market, and already was able to make it into the top 50 cryptocurrencies by market cap. Rumors that NASDAQ was planning to use Ravencoin to launch a securities token platform helped bring Ravencoin into the top 50 toward the end of 2018.
The post Ravencoin, HoloChain, and Binance IEO Altcoins Expected To Skyrocket Next Bull Run appeared first on NewsBTC.