Crypto experts are predicting that altcoins are about to take off.
The founders of analytics firm Glassnode, Jan Happel and Yann Allemann, believe we’re on the verge of an altcoin season. They think this will happen once Bitcoin breaks its all-time high of around $74,000.
What is an altcoin season?
An altcoin season is a period when altcoins (cryptocurrencies other than Bitcoin) outperform Bitcoin. This usually happens when the overall crypto market is bullish, and investors are looking for new opportunities.
Why are they predicting an altcoin season?
The analysts say that Bitcoin has been leading the charge in the crypto market, but altcoins are starting to show signs of strength. They point to a “Bitcoin-altcoin cycle indicator” that has recently spiked, suggesting that traders are starting to favor altcoins over Bitcoin.
What does this mean for investors?
If the analysts are right, we could see a significant rally in altcoins in the coming months. However, it’s important to remember that the crypto market is highly volatile, and past performance is not indicative of future results.
Disclaimer: This information is for educational purposes only and should not be considered investment advice.
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