Want To Be Able To Tell When The Crypto Market Hits The Top? Analyst Sees This Pattern

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 BTC/USD or a stablecoin, but in this instance also Ethereum ETH/USD and BNB BNB/USD 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.