Over the years, a number of indicators have emerged that have been able to predict the Bitcoin and crypto market top. In recent times, there are a total of 30 of these indicators that are being tracked on the Coinglass website to see when they would be triggered. Interestingly, none of these 30 indicators have been triggered, suggesting that the crypto market has yet to reach the top of the bull cycle, and there could still be more rallies coming.
The 30 Indicators That Predict The Bitcoin Market Top
The Bitcoin Bull Market Peak Indicators tracked on the Coinglass website help to show when it is a good time to get out of the market. Basically, trying to time and sell at the top. These indicators have all progressed over the last few years as the price has wobbled with no success so far. The images below show the complete list of indicators being tracked and their progress:
As can be seen in the image above, there are some of the indicators that have actually progressed quite far, with some already crossing into the 90% territory. But so far, none of these have been triggered to show that the Bitcoin market is actually nearing the top of this bull market cycle.
What this suggests is that it is not time to start selling, as it is possible that the market will continue to rally. Thus, it might be a good time to keep holding Bitcoin and the likes for the time being. To accurately mark the top of the Bitcoin bull cycle, multiple of these long-term indicators would have to be triggered before a top can be called.
Altcoin Season Has Still Not Begun
Not only has none of the 30 indicators tracking the Bitcoin cycle top been triggered, there is also the fact that the market is yet to see an altcoin season. Historically, altcoin seasons have been part of each cycle, and their completion tends to be one of the markers of a possible cycle top.
So far, the Altcoin Season Index has yet to reach the 75 mark required for the altcoin season to officially resume. A mark of 75 would mean that 75 of the top 100 altcoins by market cap are outperforming the Bitcoin price on a 90-day basis.
However, despite the recent rally, the Altcoin Season Index is still sitting below 40. According to data from the CoinMarketCap website, only 33 of the top 100 altcoins have outperformed Bitcoin’s 13.66% hike in the last three months, while others have fallen below it. Thus, the market is yet to see a proper altcoin season this cycle.
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