CryptoQuant CEO Ki Young Ju is sticking to his prediction that altcoins will have a big year, even though the market is looking pretty rough right now.
Whale Activity Fuels Altseason Hope
Last week, Young Ju said he thinks altcoins will start to rise in late 2024 or early 2025. He’s not changing his mind, even after crypto and stock prices took a dive over the weekend. He says his prediction isn’t based on the overall economy, but on something he’s seeing in the market: whales (big investors) are buying up altcoins.
“It’s still unclear if Bitcoin is in a long-term slump,” Young Ju said. “But if Bitcoin stays above $45,000, I think the market could bounce back quickly. Everyone knows things are tough right now, but my altseason prediction isn’t about the global economy. It’s about the fact that whales are building up their altcoin holdings. Whether they’re trying to stop prices from falling or getting ready for a big altcoin rally, it’s a strong signal.”
Not All Altcoins Will Shine
Young Ju does acknowledge that if the economy goes into a recession, only a few altcoins might stand out. “Even if asset prices drop because of the economy, the ones with strong buy walls, which basically act like a safety net, could see big gains after the crisis is over,” he explained. “I’m going to keep watching altcoins that whales and smart money are buying, no matter what the economy is doing.”
