Altcoins
Don’t be afraid of consolidation! Analysts Predict a MASSIVE Altcoin Bull Run
In recent days, the world of cryptocurrencies has found itself locked in a constant struggle between buyers and sellers, leading to a phase of consolidation with no clear winner. This uncertainty surrounding Bitcoin (BTC) has attracted investors to make profits in the altcoin market in the short to medium term.
Despite this flow, savvy traders are strategically accumulating specific crypto assets, anticipating significant rebounds in the near future.
Key enablers on the horizon
The crypto space finds support in fundamental factors such as the fourth Bitcoin halving and recent BTC spot approvals and Ethereum ETF in major financial centers such as the United States and Hong Kong. These developments pave the way for increased institutional investments, thereby strengthening liquidity within the sector.
Notably, Singapore’s leading bank, DBS, revealed Ether holdings worth nearly $650 million, according to Nansen data, highlighting the growing acceptance of cryptocurrencies.
Waiting for stability
While some altcoins, particularly in the memecoin space, have seen remarkable gains, most others are still finding their footing after the bearish breakout earlier this year.
Renowned crypto analyst Michaël van de Poppe predicts that the total altcoin market capitalization will soon stabilize around $667 billion, indicating a potential turning point.
Van de Poppe’s optimism is shared by another respected analyst, MikyBull Crypto, who draws parallels between the current altcoin market and the rally seen in 2016/2017.
According to this view, the ongoing correction is a final adjustment before an expected significant rise, suggesting a prevailing sentiment of impending bullish momentum in the altcoin space.
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