As a seasoned crypto investor with a few bear markets and bull runs under my belt, I believe that the current re-accumulation phase of altcoins is a sign of things to come – a major rally. The market sentiment may be negative at the moment, but historical trends and analysis suggest otherwise.
As a crypto investor observing the altcoin market, I notice that we’re currently in a period of prolonged re-accumulation. This means that coins are being bought back up after a sell-off, preparing for the next big move. The signs I see suggest that a major rally is on the horizon.
As a crypto investor, I’ve noticed that despite the current bearish market conditions, historical trends and insights from analysts like Mikybull indicate significant growth potential for altcoins in the near future. The 2020 price pattern, as identified by Mikybull, points towards an imminent massive price surge.
Altcoins Re-accumulation Phase
As a market analyst, I’ve noticed a bearish sentiment towards altcoins currently prevailing among investors. This negative outlook is typical during the re-accumulation phases of altcoin markets, which often precede market reversals. Supporting this perspective, DeFi analyst Cyril highlights that the present toxic sentiment represents a classic setup for significant market rallies.
He strongly emphasizes that reducing risk in the market should have been done earlier rather than now, as the market has merely taken a rejection from its initial goal, with more objectives still to challenge.
As a crypto investor, I’ve noticed an intriguing pattern: every major Bitcoin bull run has been followed by a significant decrease in Bitcoin’s market dominance, creating lucrative opportunities in the altcoin sector. Based on historical trends, I believe this trend is likely to repeat itself in the coming months, potentially reaching its peak around October 2025.
From the 2018 and 2022 lows to the halvings in 2020 and 2024, there have been 510 days.
Both bear markets lasted 370 days, highlighting a cyclical pattern in crypto.
If this pattern continues, the next stock market bull run might reach its peak in October 2025, implying a possible surge for alternative cryptocurrencies.
— Cyril – DeFi (@cyrilXBT) June 22, 2024
As a crypto investor, I’ve noticed some analysts raising concerns that market makers might try to manipulate us into believing that the bull market has ended. However, in my opinion, the current re-accumulation phase is actually a sign that the market is gearing up for another surge.
Technical Indicators and Historical Patterns
As a technical analyst, I’ve observed that the market sentiment towards altcoins leans towards the bullish perspective based on my analysis. The moving averages (MAs), specifically the 50-day and 200-day ones, indicate an uptrend. However, recent price actions have brought the values close to these MAs, signaling a potential pause or sideways movement in the short term.
Additionally, Mikybull asserts that the current market situation reflects the consolidation period. During this timeframe, prices have dipped below short-term moving averages but remain above long-term moving averages. This stage often follows a “final selloff” and is marked by weak investors selling off their positions. Consequently, this process creates room for a renewed bullish trend to emerge.
Based on historical trends, the prices of certain altcoins have surged by substantial margels in past market cycles with comparable technical configurations. For illustration, during previous bull markets, according to cryptocurrency analyst Michael van de Poppe, Solana (SOL), Fetch.ai (FET), and Render Token (RNDR) experienced impressive price hikes of approximately 500%, 650%, and 300% respectively.
In the current market situation, according to a Coingape report, certain rising cryptocurrencies with the potential for massive gains up to 20,000% could spearhead this rally. These coins include LayerZero (ZRO), zkSync (ZK), and Solana (SOL).
Gaussian Channel Points to Breakout
After analyzing the current market situation against past cycles, such as those in 2017 and 2021, some notable similarities emerge. Initially, both markets exhibited a period of consolidation. This was followed by sharp, upward surges in market capitalization that resembled parabolic rises. Such patterns often signal the accumulation of assets and a growing demand for buying, ultimately resulting in price breakouts.
As a researcher observing the current market trends, I notice striking similarities to historical patterns. Specifically, the market is taking on a consolidating triangle shape, while maintaining a solid foundation of support at its base.
As a crypto investor, I’ve been keeping a close eye on the current market trends. If this continuing pattern holds true, my analysis indicates another substantial rally could be on the horizon as we approach 2024. Moreover, the 3-week Gaussian Channel has recently changed from red to green – a shift that historically signifies a transition from bearish to bullish conditions. In the past, such transitions have been followed by strong market rallies.
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2024-06-22 22:34