Altcoins
Analysts Predict 100% Surge As Altcoin Rally Approaches
The crypto market is in a downward trend where the global market capitalization reached its lowest month at $2.26 trillion. Additionally, the fear and greed index the value is at 44, the lowest point in months, and is closer to the bear market. Market sentiments have continuously declined with the value of the altcoin. However, this is about to change as analysts believe this is the last correction before seeing an altcoin rally.
Apart from Bitcoin, all other cryptocurrencies are called altcoins, which number in the millions. Despite Bitcoin’s dominance and popularity, others also offer similar or even greater gains. This year alone, more than 23 altcoins have outperformed Bitcoin in terms of gains, and many more could do so as dominance slowly averages out.
Analysis by Michaël van de Poppe on the Altcoin rally
On June 22, Michaël posted on X his prediction of the altcoin rally while talking about their terrible performances these days. This is because of the decline in Bitcoin valuations in the case of most altcoins, but the good news is that the last time this happened, cryptocurrencies exploded, creating the altcoin rally.
According to Michaël’s article, the altcoin could reflect previous trends where the Solana Price increased by 500%, FET by 650% and RNDR by 300%. Additionally, he called this the last correction before the altcoin rally as new capital will enter the crypto market.
This table explains it all. THE #Altcoin Sentiment is currently terrible as BTC valuations of all altcoins reach new lows.
Last time this happened:$ SOL went +500%$FET went +650%$RNDR went +300%
This time, altcoins will likely do the same. pic.twitter.com/KYpzPqwDKV
– Michaël van de Poppe (@CryptoMichNL) June 22, 2024
With his comparison of previous trends and recognizing the current stage of altcoins, hopes are high that Michael’s prediction comes true.
July is Altcoin month
Another crypto analyst, Crypto Anbu, presented his views on the altcoin rally. According to his analysis, July is the favorable month for altcoins as the charts return to the 8-year trendline, challenging various bearish FVGs.
$OTHER.D – July, a good month for #Altcoins?
OTHERS.D is the crypto market cap excluding the top 10 dominant coins.
We can see how it returns to its 8-year trendline and disrespects several bearish FVGs.
July should be a good month for altcoins#Bitcoin $BTC pic.twitter.com/nZehkzJhzp
-CryptoAnbu (@CryptoAnbu_) June 23, 2024
Another crypto analyst, Mikybull Crypto, highlighted a 2020 price trend in current charts, calling it an “explosive rally charge.” According to him, within a few days or weeks, the altcoin rally will begin, exploding the crypto market with new gains.
Additionally, the 2% drop Bitcoin Dominance is also a sign that liquidity is moving to other cryptos, which is one of the first signs of the start of the altcoin season. As the price of Bitcoin falls, this opens the opportunity for investors to focus on altcoins.
Continue reading Top Cryptos With Double-Digit Gains Today; Sell or HODL