Portfolio manager and crypto analyst Mati Greenspan says billions of dollars are essentially sitting on the sidelines, ready to move into Bitcoin, Ethereum, XRP and the altcoin market at large.

Greenspan is using data from the crypto research firm Messari, which shows that the total value of all stablecoins is just shy of $6 billion. Stablecoins are digital currencies that are pegged to traditional assets like fiat. Theyre designed to maintain a steady value and offer crypto traders an easy way to sidestep the extreme volatility of the crypto markets.

Greenspans theory implies that the billions of dollars in the stablecoin market represent traders who have decided to exit their positions in BTC, ETH, XRP and other crypto assets and are waiting for the optimal time to re-enter the market.

Binance Research released a report in November on the habits of 69 clients with crypto allocations ranging from $100,000 to $25 million.

The report found that 96% of those investors are using the stablecoin market, with Tether (USDT) ranking as the favorite.

USDT is the dominant stablecoin with 40.25% usage, holding the top ranking for both Chinese and English survey respondents. USDC, TUSD, PAX are following close behind USDT, and several English survey respondents wrote in BUSD under Others, reflecting an initial interest by our institutional & VIP clients

Putting the broader results in line with respective market capitalizations, the overall use for each stablecoin is roughly in line with the rank of its respective market capitalization.

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Nearly $6,000,000,000 Ready to Move Into Bitcoin, Ethereum, XRP and Altcoin Markets: Crypto Analyst Mati Greenspan - The Daily Hodl

Bitcoins firm 2020 uptrend has allowed major altcoins to incur some much-needed momentum, with many major cryptos currently pushing up against key multi-year resistance levels that have been suppressing their price action for years.

This positive price action over the past month may be enough to break the firm bear market that altcoins have been caught within and lead some major cryptocurrencies like Litecoin and others to see some massive momentum.

Most major cryptocurrencies have been closely tracking Bitcoins price action over the past several days and weeks, which means that they have largely seen decent sized gains over the past 24 to 48 hours.

Currently, Ethereum is trading up just over 1% at its current price of $176, which marks a notable climb from recent lows of $170. Litecoin has also posted some slight gains today, climbing 1% to $60.

Over a multi-day period, most altcoins have incurred significantly larger gains than what is reflected in their 24-hour price action, as the bulk of yesterdays uptrend occurred over 24-hours ago.

This momentum may extend significantly further, however, as analysts are now noting that major altcoins like Litecoin are on the cusp of a notable breakout, with LTC potentially climbing from its current price of 0.006 BTC to 0.008 BTC.

Smokey a popular cryptocurrency analyst on Twitter spoke about this possibility in a recent tweet, saying:

LTC | BTC | Daily TF: Planning on longing LTC if it breaks out and retests .006890. Decent upside from there to nearly .008.

Litecoin isnt the only major altcoins currently poised for a major breakout.

Bob Loukas another well-respected crypto analyst explained in a tweet that although it is still too early to say for certain, it does appear that the altcoin markets are on the brink of breaking their multi-year downtrend against their Bitcoin trading pairs.

Relative to #Bitcoin, the Alts have been in almost 2 year bear market since early 2018, soon after the Bitcoin/USD bubble top. Early Days yet to call, but seeing some signs of possible end in bear market for Alts, he explained while referencing the charts of multiple notable altcoins like Litecoin, EOS, and Ethereum Classic.

How the markets trend in the coming several weeks should provide deep insight into how they will trade throughout the rest of 2020.

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Watch Out Bears: These Altcoins Are on The Cusp of an Insane Rally - newsBTC

The bullish short-term trend continues in the cryptocurrency segment, and this weekend, another batch of altcoins registered long-term breakouts. Most importantly, ETH managed to move above its long-term trendline and a crucial resistance zone, and with that, the altcoin rally could get another major boost. Even though the coming days will still be crucial, as a sharp reversal is still possible the bullish developments are hard to ignore.

Our trend model is now overwhelmingly bullish on both time-frames, thanks to this weekends upgrades, and while bulls still shouldnt let their guard down, the odds a major reversal are increasing. XRP remains the only clear laggard among the top coins, but it coul also be in for a surge higher, should the segment-wide trends continue.

BTC/USD, 4-Hour Chart Analysis

BTC has been lagging the broader market in recent days, and it failed to hit a new short-term high this weekend, despite the strong altcoin rally. On a positive note, the coin cleared the overbought short-term momentum readings, and since the uptrend is clearly intact, the coin could soon resume the rally. A sharp reversal cant be ruled out here, but the long-term trend shift seems to have a solid foundation.

BTC is still on buy signals on both time-frames in our trend model, with support zones now found near $9,200, $8,600, and $8,400, and with resistance ahead near $10,000, and $11,300.

ETH/USD, 4-Hour Chart Analysis

ETH broke out above its declining long-term trendline the key long-term $180-$185 resistance zone, triggering a long-term buy signal in our trend model and solidifying the short-term trend as well, the coin still faces strong resistance near $200, but the bullish developments in its market are encouraging for the whole segment.

Our trend model is on buy signals on both time-frames, with major support zones found between $180 and $185, and near $160 and $145, and with resistance zones ahead near $200 and $230.

XRP/USD, 4-Hour Chart Analysis

XRP finally moved above its prior short-term swing high and the $0.2475 resistance level, but its still stuck below its long-term trendline, and relatively weak from a technical perspective. The coin is now close to a long-term buy signal as well, but traders and investors should still focus their attention to the relatively stronger coins.

XRP is still now a short-term buy signal and a long-term sell signal in our trend model, with support zones now found near $0.2475, $0.23, $0.21, and $0.20, and with resistance zones ahead near $0.26, and $0.28.

LTC/USD, 4-Hour Chart Analysis

LTC scored yet another marginal new high, testing the lower boundary of the strong resistance zone near $75, in the face of the overbought short-term momentum readings. The coin is still the undoubted leader of the rally, and its long-term trend change seems safe. LTC is likely to enter a pullback or at least a choppy consolidation, but the outlook for the coin improved significantly in the past couple of weeks.

LTC is on a neutral short-term signal in our trend model, while being on a long-term buy with support zones now found near and $64, $56, $51, and $44, and with resistance zones ahead between $72.50 and $75 and near $85.

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Disclaimer: The analystowns cryptocurrencies. He holds investment positions in the coins, but doesnt engage in short-term or day-trading,nor does he hold short positions on any of the coins.

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Crypto Update: Ethereum Breaks Long-Term Trendline With Bulls Still In Control - Hacked

(MENAFN - FxPro) The crypto market ends the first month of 2020 on a positive note. During January, the total capitalization of the cryptocurrency increased by $58 billion, or almost 30%. Bitcoin (BTC) showed a 25% growth or $1,900 for the month. Ethereum (ETH), the largest in terms of capitalization, grew by almost 30% or $40 during January. The first its fork Bitcoin Cash (BCH) added 79% or $170. Litecoin (LTC), the younger brother of Bitcoin, rose 36% or $16 over the same period. Ethereum Classic (ETC) took off at 140% or $7 per month. The prices of anonymous coins DASH and ZCash (ZEC) rose by 179% (+$78) and 124% (+$36), respectively.

The main achievement of the last day for Bitcoin was the ability to stay above $9K. As of Thursday morning, the benchmark cryptocurrency is hovering around $9,300. In addition to several events that are associated with the growth of Bitcoin (Chinese virus, geopolitics, overbought stock market), analysts believe that there are several bullish technical indicators, which worked just a few days ago. We are talking about Guppy (Multiple Moving Average), which last time switched from red to green on April 9, 2019, when the rally of the Bitcoin began, which led it to $ 14K. The second indicator is the Puell Multiple, which defines historically low and high points for mined bitcoins. At the moment, this indicator is closer to the lower boundary than to the upper one.

As for the altcoins, it may confirm the assumption from crypto-Twitter that during the last six months on the market, there was an accumulation phase of alternative cryptocurrencies on the historical bottom for most coins. We can draw some conclusions from the most altcoins melting down a month ago. First, the principle of buying assets, when there is no hope in the market - fully justified and continues to work. Secondly, the crypto market continues to live, sometimes refuting even the most stringent logical schemes. Thirdly, judging by the massive promotion in the crypto media of the idea of returning the altcoin season and returning faith in the prospects of the cryptomarket, the big players who bought back the "bottom" are now preparing to sell their assets to the public. That's why it's more than rosy in the media so far.

Many altcoins have shown impressive growth for the month. However, the disappointment for market participants was XRP, which, although it grew by 15% over the month, no one was impressed by it, moreover, given the past large-scale collapse in the coin value, the growth was only a few cents. Token holders blame Ripple's management for poor performance, which sold out its XRP all year long. Also, the weak progress on new partnerships with banks and businesses indicates that we can see new lows on XRP. Recently, Ripple's CEO Brad Garlinghouse hinted at a possible IPO, which also did not impress the market. So far, XRP is the third-largest cryptocurrency by capitalization, but the situation may change in the medium term if Ripple management does not act another way.

The FxPro Analyst Team

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Altcoin season or end of the game? - MENAFN.COM

The crypto market is driven almost solely by hype and speculation, especially when it comes to altcoin assets outside of the top ten cryptocurrencies by market cap.

One subset of once-hyped altcoins is now approaching an average return of 0% after 200 days, suggesting that no one in their right mind wants to hold this type of crypto asset.

All throughout 2017, alongside Bitcoin was the rise of Ethereum, propelled primarily due to the initial coin offering boom and the explosion of new altcoins being built on top of the Ethereum protocol.

ICOs became the crowdfunding method of choice for many companies and projects during the crypto hype bubble, bypassing regulatory red tape and raising funds quickly.

Related Reading | Exchange-Related Tokens Dominate Crypto ROI Last Year

However, many of these ICOs were launched illegally, and without following International securities laws. The result was project backers receiving fines from the SEC, and ICO investors liquidating their essentially useless tokens at any cost, in hopes of recouping some of the lost investment.

But the crypto market still had much demand for shiny new altcoins. A handful of cryptocurrency exchanges took it upon themselves to provide an alternative.

A select few exchanges launched a new form of crowdfunding, completed with the added backing of the exchange itself. This caused an abundance of new, enormously hyped altcoins that crypto traders flocked to.

The feverish interest in these initial exchange offering tokens satiated the appetite left behind by the ICO crazy, and it helped cause exchange utility tokens to be among 2019s top-performing crypto assets, as many of these platforms required investors to hold or exchange a certain number of their native tokens.

It was a boon for exchanges, that saw a surge in interest and activity surrounding their native platform tokens, however, investors have been left holding heavy bags much like the ICO craze.

IEO tokens are approaching a 0% return over the 200 days since many of them were first released into the wild, making them essentially useless as an investment vehicle.

While some of the assets went on massive rallies, it was likely a result of a low liquidity pump and dump scheme that saw investors of the altcoin Matic left bewildered after a surprise selloff followed a parabolic rally.

According to industry analysts, it appears that no one wants to hold IEOs long term.

The lack of interest or even negative viewpoint towards these assets could be the result of regulatory uncertainty. While the SEC made it clear that ICOs were often unregistered securities, IEOs are more of a grey area.

Related Reading | Former SEC Chief Calls IEOs Unregulated Crypto-Casino Fundraising Mutations

But because its a grey area, the SEC has issued a warning to crypto investors about IEOs regarding how they can be used improperly to entice investors with the false promise of high returns in a new investment space.

However, given the fact theyre approaching 0% returns after 200 days, the idea of the promise of high returns fooling investors would require a complete lack of common sense.

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This Class of Once Hyped Altcoins Is Headed To Zero - newsBTC