Bitcoin Indicator Signals 1,100% Gains for Crypto Assets – BTC, XRP, Ethereum, Litecoin Forecast

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Fundstrat co-founder and head of research Tom Lee says a drop in the correlation between altcoins and Bitcoin indicates that a so-called “alt season” bull run has already begun.

If past is prologue, Lee says crypto assets could be poised for 1,100% gains. He arrives at that number by averaging the percentage gains that alts collectively recorded in the last two altcoin bull runs.

Lee points to the large number of Visa and Mastercard accounts, which still dwarfs the number of active Bitcoin wallets, as a sign that the crypto movement at large still has a lot of room to grow.

2/ past alt-seasons averaged 1,100% gains

Will the next alt-season be as strong as the past? Given there are probably only ~50mm active wallets (vs 5 billion Visa/MasterCard accts), we think crypto still early in the adoption curve. So it should be similar pic.twitter.com/cgTBOHteMT

— Thomas Lee (@fundstrat) April 20, 2019

Right now, the crypto markets are mostly in the green. Bitcoin is up 1.03% at $5,284. Ethereum is up 1.09% at $169.57 and XRP is up 0.91% at $0.3226.

Technical analysts are seeing some bullish signs for Bitcoin and Ethereum, while plotting the short term trajectories of XRP and Litecoin.

Bitcoin

CoinDesk – Bitcoin RSI confirms possible long-term bull reversal

FXStreet – Immediate recovery appears limited by $,5,280-5,300

Coinspeaker – BTC/USD showing bullish movement on short-term outlook

Ethereum

Blockonomi – ETH bulls in position for fresh increase

NewsBTC – Ethereum price correcting gains but remains buy on dips

FXStreet – ETH/USD eyes bullish pennant breakout

XRP

Live Bitcoin News – XRP bulls facing uphill task near $0.3400

Blockonomi – XRP showing signs of renewed buying interest

FXStreet – XRP/USD bulls break above near-term line of resistance

Litecoin

Ethereum World News – LTC could test $72.00 or $70.00 support level before fresh increase

FXStreet – Sustainable move above $80.00 needed to mitigate bearish pressure

Crypto Briefing – LTC/USD pair retains bullish medium-term outlook

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