The month of January has been very important for the Cryptocurrency as it starts a trend for altcoins. The new-year 2020 has begun and the month of January is going on. Previous four Januaries started a different trend for altcoins and now we have to see what trend it will set for altcoins for this year.
In the previous four years, January acted as a catalyst for bullish and bearish markets and now it is expected that it will excite the altcoins season this year.
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Historical connection between January and Altcoins
There has been a historical connection between January and Altcoins. Being the first month of the year, we see several predictions and comparisons in this month.
According to the historical data, January sets the start of a specific trend for altcoins as it has been doing this in the past four years. In the year 2016, we saw that altcoins received positive gains. While in the year 2017, the altcoin market surged. As the historical data shows:
Via TradingView.com
The year 2017 has been very significant for the altcoins market because almost all of the crypto assets recorded their all-time highs. And this was the year when cryptocurrencies were introduced to people. On the other hand, the year 2018 was a year of the bear market. Several altcoins showed bearish performance this year.
In the year 2019, altcoins tried to recover what they lost in the previous year. So this year is known as a year of recovery.
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What will happen with altcoins in 2020?
The important point here is that what trend January will set for altcoins and what will happen with altcoins this year.
The beginning of the year 2020 has been good for altcoins as almost all of the major coins have recorded positive gains and they are currently showing bullish behavior. Among these major altcoins, Bitcoin Cash gained 17.5% while Bitcoin SV and XRP gained 16.9% and 11.75% respectively.
In 2020, Bitcoin halving is going to be held. Everyone knows that it will have an effect on Bitcoin. But whether it will affect altcoins or not that is the question.
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