top cryptos and altcoins<\/a> saw their prices fall as well.<\/p>\nMost of the listed cryptocurrencies lost 20-30% of their value over a few days. DonAlt, a popular crypto analyst, believes that Bitcoin\u2019s tumble could open up an opportunity for altcoins to make significant gains in the markets.<\/p>\n
A bearish market for Bitcoin could mean that altcoins become a viable option for traders, and hence these cryptos would see their value go up.<\/p>\n
DonAlt said that for altcoins to go on a bull run, Bitcoin should suffer a decline in price first. During the current market crash, Bitcoin\u2019s price has dropped by over $1,000 to see the crypto asset trade around the $8,300 mark.<\/p>\n
This is one of the lowest prices that Bitcoin has experienced this year, and if the coin does not receive enough support, it could lose more ground.<\/p>\n
The crypto analyst said that although Bitcoin\u2019s price decline is usually accompanied by price falls for altcoins, there\u2019s a point at which capitulation on the part of crypto holders could assist altcoins to turn around.<\/p>\n
DonAlt said that the market always behaves in such a way that it puts altcoin holders in maximum pain before giving them the incentive to capitulate before they can regain what they would have lost on the market.<\/p>\n
According to a graphic that shows market psychology following a market crash such as the one currently being experienced by cryptocurrencies, the capitulation of altcoins is followed by panic and denial on the part of traders.<\/p>\n
After this panic and denial has settled in, the market experiences a bull run due to the considerable price decline the coins would have suffered.<\/p>\n