The bear market for smaller cryptocurrencies known as alt-coins is over, according to Fundstrat Global Advisors LLC. But don’t expect the rally to resume just yet.
The firm’s measure of alt-coins shows a 75 percent decline in the group over the past 64 days. The rout comes after a 62-day rally pushed them to unprecedented heights. Based on the trajectories of three previous alt-coin bear markets, where the selloffs lasted roughly as long as the surges that preceded them, Fundstrat says the likelihood that the current drop has ended is high.