Analysts Predict 100% Surge As Altcoins Rally Nears

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As an experienced crypto market analyst, I’ve witnessed numerous bull and bear cycles over the years. Based on the current market trends, it appears that we are in the last stages of a correction before the altcoins rally. The fear and greed index is at its lowest point in months, indicating a potential shift from bearish sentiment to bullish one.

As a researcher studying the crypto market, I’ve observed that we’re currently experiencing a downtrend, with the global market cap reaching a monthly low of $2.26 trillion. The fear and greed index, which indicates market sentiment, has dropped to 44 – its lowest point in months and is edging closer to the bearish market territory. The sentiment towards altcoins, in particular, has been negatively trending. However, analysts predict that this could be the final correction before an anticipated rally in altcoins.

Among the vast array of digital currencies available beyond Bitcoin, which is commonly referred to as altcoins, there are millions in existence. Although Bitcoin holds a significant market share and popularity, altcoins have also delivered impressive returns this year. In fact, over 23 of these cryptocurrencies have surpassed Bitcoin’s gains, and the number could potentially grow larger as the competition intensifies.

Michaël van de Poppe’s Analysis Of Altcoin Rally

On June 22nd, I noted on my social media platform X that I believed altcoins were due for a rally despite their recent slump in performance. The reason being, the value of Bitcoin had taken a hit, causing many altcoins to follow suit. However, I pointed out that history has shown us that such downturns in Bitcoin’s value have often been preceded by significant rallies in the altcoin market.

According to Michaël’s perspective, certain altcoins may follow historical patterns where Solana surged by 500%, FET experienced a gain of 650%, and RNDR saw a rise of 300%. Furthermore, he anticipates that this could be the final correction before an upswing in the altcoin market as new funds are expected to flow into the crypto sector.

The feelings towards alternative cryptocurrencies are quite negative at present, with their Bitcoin values hitting record lows. This chart provides a clear overview.
The last time this happened:$SOL went +500%$FET went +650%$RNDR went +300%
This time, altcoins are likely to do the same.
— Michaël van de Poppe (@CryptoMichNL) June 22, 2024

As a researcher studying the cryptocurrency market, I’m optimistic about Michaël’s forecast based on his analysis of past trends and the current state of altcoins.

July Is The Month For Altcoins

Crypto analyst Crypto Anbu shares his perspective on the recent surge in altcoins. According to his assessment, the trends in July could favor altcoins as they approach an 8-year-old trendline, confronting several bearish resistance levels.

$OTHERS.D – July, A Good Month For #Altcoins?
OTHERS.D is the crypto market cap excluding the top 10 coins dominance
The stock appears to be reverting to its 8-year-old trendline, ignoring several bearish forecasts.
July should be a good month for altcoins#Bitcoin $BTC
— Crypto Anbu (@CryptoAnbu_) June 23, 2024

Mikybull Crypto, another cryptocurrency analyst, has identified a 2020 price pattern in the current charts, which he refers to as an “imminent explosion of gains” for altcoins. According to him, this rally could unfold within the next few days or weeks, significantly boosting the crypto market with new price increases.

I’ve observed that Bitcoin’s dominance has decreased by 2%. This decline is an indication that liquidity is shifting towards other cryptocurrencies, which could be a harbinger of the upcoming altcoin season. With Bitcoin’s price dipping, investors are increasingly turning their attention to alternative digital assets.

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2024-06-25 15:55