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Altcoin Season Predicted to Start in the Next 6 Months, Crypto Analyst Says
Analyst Predicts Altcoin Season to Begin in Near Future
With Bitcoin’s recent surge, investors are eagerly awaiting the altcoin season in the crypto market. While some cryptocurrencies have seen gains along with Bitcoin, the excitement for the altcoin rally is palpable. A crypto analyst has now provided a specific timeline for when this anticipated event may occur.
Altcoin Season Expected to Follow Bitcoin Dominance Drop
Crypto analyst Ash Crypto, with a significant following, has shared insights on the altcoin season. He noted that Bitcoin’s dominance has recently reached a 42-month high, propelling its price to $68,000. However, Ash believes that the alt season will only commence once Bitcoin’s dominance drops from its current level of 57.7%. He predicts that if Bitcoin’s dominance reaches 61% due to a price rally to $80k-$90k in the next 30 days, altcoins may temporarily underperform. Historically, a drop in Bitcoin dominance has paved the way for the alt season, as seen in 2020 when BTC’s dominance decreased from 73% to 53% following a price surge.
Potential Portfolio Boost During Alt Season
During the altcoin season, significant price surges are often observed, leading to substantial gains for investors. While the behavior of individual cryptocurrencies is unpredictable, the overall market tends to experience notable rallies. Ash Crypto has also shared his price predictions for top cryptocurrencies during this period. He anticipates Bitcoin hitting a new all-time high of $125k – $180k in Q4 and Ethereum soaring to $10k from its current level of $2.6k. Moreover, he foresees many altcoins potentially increasing by 50-100x in the next six months alongside the alt season. Another analyst, Kevin Cage, has suggested that XRP could surge by 10x-500x during this period.
It’s important to note that the views expressed in this article are based on the author’s personal opinion and are subject to market conditions. Conduct your own research before making any investment decisions. The author and the publication do not take any responsibility for financial losses incurred.
The information in the article is for informational purposes only. It does not constitute any investment advice. The author and CryptoBlockNews.com are not responsible for your profits or losses arising from your investments. Investment is ultimately based on many foundations such as knowledge, accumulation, experience, research and personal decisions.
