Last week Bitcoin’s (BTC) price action surprised the majority of the market and traders are now looking closely at altcoins to spot similarities that might signal a new altcoin market cycle. As Bitcoin surged, China-based altcoins began to break out of their downtrend and showed some significant increases. For example, altcoins like NEO rallied 101% and Ontology (ONT) quickly gained 128%. Let’s have a look at the altcoin market for an overview. Altcoin market capitalization breaks the downtrend {image} The total altcoin market capitalization broke out of a 4-month long downtrend and falling wedge structure. The ... (full story)