• 15 June, 2024
Market News Price Analysis

Crypto Altseason Predictions Heat Up as Market Sentiment Shifts

Market trends suggest that there is a favorable change in the making as many analysts expect the next few months to be the Altseason. Looking at the trends of the market, it is predicted that the dominance of Bitcoin will soon decline, thus giving other cryptocurrencies or altcoins a chance to rise in value. This has created a form of excitement among the investors who are expecting the next big bull market to happen soon.

In a recent post by ParabolicPump, the analyst pointed out from the historical data of the previous bull runs that there is a pattern that is repeated. Every time Bitcoin’s market dominance falls, altcoins have been seen to rise, entering a period which is referred to as an ‘Altseason’ in the crypto space. The findings suggest that this trend is expected to be realized in 2024. ParabolicPump emphasizes the strategic buying opportunities currently available, as altcoins are at significant buy zones.

Source: X

Another crypto analyst, Charting Guy, also shared the same view. In his analysis of the altcoin market he notes that the present market can’t be described as a bear market. He focuses on technical aspects, such as the consolidation within the golden pocket, which is a significant area in Fibonacci retracement analysis and all the exponential moving averages (EMA) maintaining an upward trend. This is coupled with comparisons to similar conditions in the fall of 2020, which implies that the altcoin market has ample room for growth, with no clear top signals in sight.

Also, key technical indicators like the Lower MACD and the MVRV Z-Score are currently at the same levels as those observed in 2020. During that period, these indicators preceded major increases. The absence of the top formation indicators in different technical areas also indicates the possibility of the altcoins entering a bull phase.

Analysts Predict Major Altcoin Surge Following Current Accumulation

The cyclic nature of Bitcoin dominance and altcoin rallies offers strategic opportunities for investors. With expert analysis and historical patterns as guides, the next few months could prove pivotal for those looking to make significant gains in the cryptocurrency market.

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