Market analyst Frédéric Schneider — founder of algorithmic trading indicators development firm Material Indicators — suggested that there is one simple indicator for when the cryptocurrency market reached the top value of the current cycle.
What Happened: Schneider wrote in a Monday tweet, that the top phases of the cryptocurrency market's cycles usually coincide with the daily number of altcoin trades being about 90% of the total number of daily crypto trades.
Appears market tops when alts account for ~90% of all daily trades (alts definition excludes stables, BTC, ETH, BNB). pic.twitter.com/WgkZgkYnbc
— Material Scientist (@Mtrl_Scientist) April 11, 2022
See Also: How to get free crypto
Altcoins are usually defined as cryptocurrencies that are not Bitcoin (CRYPTO: BTC) or a stablecoin, but in this instance also Ethereum (CRYPTO: ETH) and BNB (CRYPTO: BNB) were excluded. When confronted about why he excluded BNB, Schneider simply wrote that it only changes the result by about 1%, suggesting that it is not a notable change.
Schneider's remarks follow prominent cryptocurrency analyst Benjamin Cowen sharing four lessons that he learned about how to survive a crypto bear market in mid-March.
BTC Price Action: As of press time, Bitcoin is trading at $40,088 after seeing its price fall by about 0.97% over the last 24 hours.
