Crypto Analyst Says Altcoins Are About to Enter a Parabolic Curve, Here’s Why

Expectations for the crypto industry are still high and altcoins, in particular, are expected to do well. A crypto analyst known as El Crypto Prof on X (formerly Twitter) shares this sentiment, expecting the altcoin market to experience a parabolic rally.

Altcoins are about to explode

In an article on X (formerly Twitter), the crypto analyst highlighted why the altcoin market would have exploded. The chart attached to the article shows previous crypto market bull cycles and why the current moderate market performance was normal.

For example, in 2016, the crypto market went into accumulation mode after the Bitcoin halving, where altcoins stagnated for a while before recovering. The same was the case in 2020 after the Bitcoin halving, with accumulation dominating the market for a few months before rebounding.

The same trend repeats itself in 2024 after the Bitcoin halved was finished a week ago. Looking at the chart, the crypto analyst points out that this accumulation trend is happening again. But that’s not the only thing that’s repeated.

After each accumulation period was the backtest, and a successful confirmation above this point was always started the altcoin rally. The analyst points out that this backtest is already underway and from here altcoins could experience a significant explosion.

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They further explain that if the trend continues as it did in 2016 and 2020, then the altcoin market could see “months of glory ahead.” This could easily see the total altcoin market the capitalization has doubled as it did in 2016 and 2020, and given the current market cap of around $1 trillion, the market cap is expected to exceed $2 trillion. “Anyone who is bearish here obviously hasn’t done their homework,” the analyst warned.

Crypto market still bullish

Despite the price drops that rocked Bitcoin and altcoins during the month of April, the market remains bullish. An indicator of this is that the Crypto Fear and Greed Index continue to orient yourself into greed territory, meaning investors are still willing to put money into the market.

Rekt Capital, another crypto analyst, also supports Crypto Prof’s analysis. The analyst also spoke to X (formerly Twitter) to reveal that the Bitcoin Price is also in an accumulation phase, which he calls the “reaccumulation period.” However, the analyst believes that many will miss the breakout that follows, saying: “In a few months, no one will remember this reaccumulation period. But everyone will remember the parabolic phase that follows. »

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Altcoins market cap at $1.016 trillion | Source: Crypto Total Market Cap Excluding BTC  on Tradingview.com

Featured image from Cointribune, chart from Tradingview.com

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