Analysts Predict 100% Surge As Altcoins Rally Nears

The crypto market is in a downtrend where the global market cap has reached a month low at $2.26 Trillion. Moreover, the fear and greed index value is at 44, the lowest point in months, and is closer to the bearish market. The market’s sentiments have been declining continuously with the altcoin’s value. However, that is about to change as the analysts believe this is the last correction before seeing an altcoins rally.

Other than Bitcoin, all the other cryptocurrencies are called altcoins, which are millions in number. Despite Bitcoin’s dominance and popularity, the rest also offer similar gains or even higher. This year alone, more than 23 altcoins have outperformed Bitcoin in terms of gains, and many more might as dominance is slowly getting to the average.

Michaël van de Poppe’s Analysis Of Altcoin Rally

On 22nd June, Michaël posted on X about his prediction of the altcoins rally while mentioning their terrible performance these days. It is because of the drop in the Bitcoin valuations in the case of most altcoins, but the good news is that the last time this happened, cryptocurrencies boomed, creating the altcoins rally.

As per Michaël post, the altcoin might mirror the previous trends where the Solana price rose 500%, FET went 650%, and RNDR gained 300%. Additionally, he has called this the last correction before the altcoins rally as new capital will enter the crypto market.

This chart explains it all. The #Altcoin sentiment is terrible currently, as the BTC valuations of all the altcoins are reaching new lows.

The last time this happened:$SOL went +500%$FET went +650%$RNDR went +300%

This time, altcoins are likely to do the same. pic.twitter.com/KYpzPqwDKV

— Michaël van de Poppe (@CryptoMichNL) June 22, 2024

With his comparison of the previous trends and acknowledging the present stage of altcoins, the hopes are high for Michaël’s prediction to come true.

July Is The Month For Altcoins

Another crypto analyst, Crypto Anbu, has presented his views on the altcoins rally. As per his analysis, July is the favorable month for altcoins as the charts are returning to the 8-year-long trendline, challenging various bearish FVG.

$OTHERS.D – July, A Good Month For #Altcoins?

OTHERS.D is the crypto market cap excluding the top 10 coins dominance

We can see how its coming back to its 8-year-long trendline and is disrespecting multiple bearish FVG

July should be a good month for altcoins#Bitcoin $BTC pic.twitter.com/nZehkzJhzp

— Crypto Anbu (@CryptoAnbu_) June 23, 2024

Another crypto analyst, Mikybull Crypto, highlighted a 2020 price pattern in the current charts, calling it an “explosive rally loading.” As per him, within days or weeks, the altcoins rally will begin, booming the crypto market with new gains.

Additionally, the 2% drop in Bitcoin dominance is also a sign of the liquidity traveling to other cryptos, which is one of the earlier signs of the beginning of the altcoin seasons. As the Bitcoin price is moving down, it is opening the channels for the investors to focus on the altcoins.

Continue Reading Top Cryptos With Double Digit Gains Today; Sell or HODL

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