Altcoins
Altseason signal likely to flash in coming weeks, says analyst Jamie Coutts – Here are his top Altcoin picks
Real Vision analyst Jamie Coutts believes the altcoin market is gearing up for a massive breakthrough against Bitcoin (BTC).
The former Bloomberg analyst tell its 18,100 followers on social media platform
Said Coutts,
“Depending on our position in the crypto, presidential and, most importantly, liquidity cycle, an altseason signal is likely in the coming weeks.”
Coutts says a historical signal of the start of an alt season is when the smart contract platform (SCP) sector is rising while the alt season index is in an uptrend, represented by the green arrows on his chart below.
Source: Jamie Coutts/X
Although the alt-season index has yet to rise, SCP projects are starting to turn bullish, he says. He selects the best alternative projects that he believes will perform well in the coming weeks, including Solana (GROUND), NEAR protocol (CLOSE) and Toncoin (TONNE).
“We can try to anticipate [alt season] or look at the assets that are already outperforming (of these 26% [altcoin season index]) and bet on their continued relative strength. SCP assets with the highest relative strength compared to BTC: SOL, NEAR, TON.
SOL/BTC is trading at 0.00250 BTC ($168) at the time of writing, up almost 1% in the last 24 hours.
Meanwhile, NEAR is trading at 0.0001135 BTC ($7.63) at the time of writing, up slightly on the day and TON is trading at 0.00009646 BTC ($6.46) at the time of writing , up 1.17% in the last 24 hours.
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