Category Archives: Altcoin
Altcoin Season Approaching? Ethereum Fees Dive, Analysts See Bullish Signal – CCN.com
Key Takeaways
Gas fees on the Ethereum network have fallen to their lowest levels in six months, coinciding with a modest uptick in ETHs price.
Analysts from the crypto analytics platform Santiment interpret the drop in gas fees as a potential indicator of an impending altcoin rally.
Santiment reported that the average fee for an Ethereum transaction dipped to just $1.12.
The platform noted that transaction fees tend to mirror cycles of investor sentiment, alternating between periods of high optimism and significant pessimism.
Gas fees typically reach their peak during market highs and then decrease to lower levels during market lows.
Earlier in the year, Ethereums gas fees hit an eight-month peak in February, driven by heightened interest in the experimental ERC-404 token standard.
The current low gas fees on the Ethereum network might signal a potential uptick in activity, possibly setting the stage for an altcoin rally.
According to Santiment, the recent market retracement, along with decreased demand and less strain on the network, could lead to a faster than expected recovery for Ethereum and related altcoins.
According to CoinGecko, Ether has seen a 4.3% increase over the past week, which aligns with observations of a minor rally in its price.
Furthermore, on April 27, three Ethereum layer-2 networksOptimism (OP), Arbitrum (ARB), and Polygon, were ranked among the top five best-performing assets within the top 50 cryptocurrencies by market cap. These networks posted gains of 11.7%, 3.5%, and 2.8% respectively.
However, the downturn in network activity has resulted in an increase in the circulating supply of Ethereum.
In the past month,74,458 new ETH were issued while only 57,516 were burned, leading to a net supply increase in supply of 16,979 ETH. This development contrasts with the steady deflation observed over the previous five months.
Its important to note that Ethereum moved to a proof-of-stake consensus mechanism, known as The Merge, on September 15, 2022. This was part of an effort to reduce the overall supply of Ethereum and potentially increase its value over time. Since then, more than 437,000 ETH has been burned.
The Ethereum network reported a robust income of $365 million in the first quarter of 2024. This represented year-on-year revenue growth of 155%.
This figure represents a substantial 200% increase compared to the $123 million profit recorded in the fourth quarter of 2023. A major factor contributing to this growth was the surge in decentralized finance (DeFi) activity during the three months.
Ethereums fee revenue, generated through user transactions, reached a notable milestone of $1.17 billion in the first quarter of 2024. This represented a 155% increase from the same period in 2023 and an 80% upswing from the previous quarter.
The increase in network activity, driven by the growth in DeFi applications, has propelled Ethereums average daily transactions in 2024 to surpass last years figures. The current average of 1.15 million daily transactions is nearing the peak levels observed during Ethereums significant run in 2021.
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Altcoin Season Approaching? Ethereum Fees Dive, Analysts See Bullish Signal - CCN.com
Is the Next Altcoin Season Around The Corner? Some Traders Believe So – Cryptonews
Last updated: April 29, 2024 17:26 EDT | 1 min read
With Bitcoin exhibiting signs of consolidation, anticipation is building around a potential new altcoin season.
The recent price movement has sparked discussions and speculation among traders about the possibility of an upcoming altcoin season.
Ahead of the April 28 weekly close, Bitcoin bounced past $64,000, and data indicates a strengthening of Bitcoins price over the weekend.
At the time of writing, Bitcoin hovers around $62,600, while the total altcoin market capitalization has seen a modest 1% increase, hinting at a potential positive trend for these alternative cryptocurrencies.
Trader and commentator Moustache predicted a full-fledged altcoin season, rivaling anything since the all-time highs in 2017.
Responding to the altcoin activity, popular trader Skew noted on X (formerly Twitter) that Alts bounced nicely, but breaking the pattern of setting weekly highs on Mondays and Tuesdays remains crucial.
Skew suggested that there is a possibility of sell-side pressure hindering Bitcoins progress towards its near-range highs.
The trader suggested that Tether is attempting to reclaim its position after breaking below a rising trendline earlier this year. This dip was merely a backtest.
According to his statement, there is an inverse relationship between the USDT (Tether) value and the value of altcoins.
Ethereums price has experienced a substantial drop over the past six months due to gas fees skyrocketing.
ETH has dropped 10.46% this month alone from its April 9 high of $3,722.
In the past week, Ether has seen a slight increase of 4.3% in the market, but still not enough to bounce back.
Analysts from crypto analytics platform Santiment suggested that the drop in Ethereum gas fees could potentially signal an upcoming altcoin season.
According to Santiments X post, Ethereums average transaction fee has fallen as low as $1.12.
Santiment predicts a quicker turnaround for Ethereum and associated altcoins than expected due to the recent retracement and reduced demand on the network.
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Is the Next Altcoin Season Around The Corner? Some Traders Believe So - Cryptonews
Ethereum Price to Outperform Bitcoin as BTC Dominance Decline Puts Market on Brink of Altcoin Season – CCN.com
Key Takeaways
The BTCD measures the dominance of Bitcoin relative to the rest of the crypto market. Increases in BTCD occur in periods when the BTC price outperforms altcoins, and the opposite happens whenBTCD falls. Sharp BTCD falls have historically been considered the start of altcoin season.
While 2024 has been a bullish year for cryptocurrencies, most have underperformed BTC. This is particularly evident when considering that BTC has reached an all-time high while Ethereum has not. However, the recent bearish signal in the BTCD combined with a bullish signal in ETH/BTC could change this.
The BTCD has increased alongside an ascending support trend line for over 500 days. The upward trend was initially rapid but stalled in October 2023. BTC has traded between 52 and 56% since.
In the beginning of April, BTCD made a failed attempt at breaking out from the 0.5 Fibonacci retracement resistance level of 56.42%. However, it was unsuccessful, leaving a long upper wick in its wake (red icon).
BTCD fell after the rejection and now risks a breakdown below the ascending support trend line. Since the trend line has existed for nearly 520 days, breaking down below it could trigger altcoin season, a period in which altcoins increase at a much faster rate than BTC.
The weekly MACD supports reinforces this likelihood, since it has generated a triple bearish divergence (green), which started once the BTCD upward trend stalled. Such a divergence has never occurred in BTCDs history, meaning that it can lead to a significant downward movement.
If this hypothesis is correct, it would be logical for the altcoin market cap to break out.
As expected, the Altcoin market cap has increased since April 13, reclaiming the 0.5 Fibonacci retracement support level in the and creating long lower wicks (green icons).
Even though the altcoin market cap has fallen since March 14, the decrease has been contained inside a descending parallel channel. This is a common characteristic in corrective structures.
The likelihood of a breakout is also supported by the fact that the altcoin market cap reclaimed the $1.02 trillion support area and moved above the channels midline. It currently attempts to validate the $1.02 area as support.
Finally, the weekly MACD broke out from its resistance trend line (green) and made a bullish cross. While all signs point to a bullish trend, confirming the bullish scenario requires a breakout from the channel.
In the past week, the total amount paid in fees to use the Ethereum blockchain has been around 1,000 ETH. This is an extremely low value and notably below the yearly high of 10,000 ETH in March 2024.
In the past 12 months, the only other time ETH fees were this low was in September and October 2023. This is a sign that network activity is falling. This period coincided with an increase in the ETH supply, conforming to the issuance/burn mechanism, since inactivity in the Ethereum network decreases gas fees, resulting in a slower ETH burn.
Since the merge in September 2022, the total ETH supply has steadily decreased. The exception to the downtrend was in September & October 2023, when the supply increased by roughly 50,000 ETH.
As expected, the ETH supply has increased by nearly 20,000 this month since issuance is outpacing the burn.
Furthermore, the ETH price also reached a bottom the last time fees were this low. After 60 days of consolidating between $1,500 and $1,800, ETH began an upward movement in the end of October 2023, culminating with a high of $4,093 in March 2024.
Ethereum, ranked as the biggest altcoin by market capitalization, holds the key to triggering a fall in BTCD through its outperformance of Bitcoin.The ETH/BTC chart is almost the exact mirror opposite of the BTCD one.
ETH/BTC fell under a descending resistance trend line for nearly 600 days, and also decreased below the 0.052 horizontal support area. However, the price is in the process of reclaiming this long-term horizontal support area. If it does, it will likely also break out from the trend line, since it is very close to it.
Moreover, the weekly RSI & MACD have generated a triple bullish divergence. This is a very similar signal to the BTCD one but in the opposite direction. So, it reinforces the possibiltiy that ETH/BTC will break out.
A weekly close above 0.055 will confirm the breakout is underway, initiating this cycles altcoin season.
To conclude, there are three signal that have aligned and support an upcoming altcoin season. Firstly, the BTCD has generated a bearish signal. Secondly, the altcoin marketcap is in the precipice of breaking out from a long-term channel. Ethereumappears poised to break out from a nearly two-year-long downtrend and potentially outperform Bitcoin.
Confirming this possibility requires an ETH/BTC breakout and a BTCD breakdown. However, all signs indicate that this outcome is the most likely future outlook.
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Ethereum Price to Outperform Bitcoin as BTC Dominance Decline Puts Market on Brink of Altcoin Season - CCN.com
Bitcoin Set to Become More Dominant Even as BTC Stares at First Monthly Loss Since August – TradingView
Bitcoin {{BTC}} appears on track to end a seven-month winning streak. Still, the largest token by market value is likely to become more dominant in the crypto market, according to one analyst.
As of the time of writing, bitcoin changed hands at $63,200, representing an 11% monthly loss, the first since August 2023, according to data source CoinDesk and TradingView. The CoinDesk 20 Index, a measure of the most liquid digital assets, traded nearly 20% lower for the month at 2,185 points.
A bevy of factors like the dwindling probability of the Fed rate cuts, reduced demand for the U.S.-based spot bitcoin exchange-traded funds (ETFs) and broad-based risk aversion in financial markets have taken the wind out of the bitcoin bull run this month. Meanwhile, a continued expansion of prominent stablecoins has been a supportive factor.
Analysts are now closely watching Wednesdays quarterly refunding statement by the U.S. Treasury. According to Singapore-based QCP Capital, a higher issuance of short-term bills could free up liquidity, supporting risk assets.
The upcoming Quarterly Refunding Announcement (QRA) on May 1 could also see higher issuances of short-term U.S. bills. This will drain the RRP, which currently has USD 400 billion, and also increase liquidity, QCP said in a market note.
The U.S. Treasury said on Monday it plans to borrow more in the April to June quarter. Higher-than-expected borrowing means more bond supply, higher yields or risk-free rates and less reason to invest in risky assets.
The Treasury also said it expects to maintain a balance of $850 billion in its Treasury General Account by the end of September, slightly higher than the $750 billion expected.
BTC to become more dominant
Bitcoins dominance rate, or the share in the crypto market, recently rose to a three-year high of 57%, breaking higher from a six-month consolidation pattern.
The breakout means bitcoin could continue to outshine alternative cryptocurrencies (altcoins) in the coming months.
It [the dominance rate] recently had a breakout favoring bitcoin over altcoins in the intermediate-term, which is in line with the weekly RRG [relative rotation graph] where most altcoins point lower, Fairlead Strategies said in a note to clients Monday.
The breakout in the index marks a continuation of a long-term turnaround phase, which has reversed much of the altcoin gains made in early 2021, Fairlead Strategies added.
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Bitcoin Set to Become More Dominant Even as BTC Stares at First Monthly Loss Since August - TradingView
Ethereum Gas Fees Six-Month Low Suggests Impending Altcoin Rally: Santiment – CryptoPotato
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Ethereum Gas Fees Six-Month Low Suggests Impending Altcoin Rally: Santiment - CryptoPotato
Ethereum Gas Fees Hit Six-Month Low, Indicating Potential Altcoin Surge: Santiment – Cryptonews
Last updated: April 29, 2024 02:40 EDT | 2 min read
Gas fees on the Ethereum network have experienced a significant drop to their lowest levels in six months, even as the price of Ether saw a slight rally over the weekend.
Analysts from crypto analytics platform Santiment suggest that this decline in gas fees could be a signal for an upcoming altcoin rally.
According toSantiments post on X, the average fee for an Ethereum transaction fell as low as $1.12.
The platform explained that transaction fees often follow cycles of investor sentiment, swinging between extreme optimism and pessimism.
Gas fees tend to peak during market tops and then decline to lower levels during market bottoms.
Earlier this year, gas fees on Ethereum reached an eight-month high in February due to a surge in interestforthe experimental ERC-404 token standard.
However, the current low gas fees could indicate a potential increase in activity on the Ethereum network, potentially leading to an altcoin rally.
Santimentsuggests that the recent retracement in the markets, coupled with the reduced demand and strain on the network, may result in a quicker turnaround for Ethereum and associated altcoins than expected.
CoinGecko data shows that Ether has experienced a 4.3% gain in the past week, supporting the notion of a slight rally in its price.
Additionally, on April 27, three Ethereum layer-2 networksOptimism (OP),Arbitrum(ARB), and Polygonwere among the top five best-performing assets in the top 50 cryptocurrencies by market cap, with gains of 11.7%, 3.5%, and 2.8% respectively.
However, the reduced network activity has led to an increase in the circulating supply of Ethereum.
Over the past month, 74,458 new ETH were issued, while only 57,516 were burned, resulting in a net supply increase of 16,979 ETH, as reported by ultrasound.moneydata.
This stands in contrast to the previous five months, which saw a steady deflation. Its worth noting that sinceEthereums transitionto a proof-of-stake consensus mechanism, known as The Merge, on September 15, 2022, more than 437,000 ETH has been burned.
The Ethereum networkreported a robust income of $365 millionin the first quarter of 2024, an impressive year-on-year revenue growth of 155%.
As reported, Ethereums Q1 income represents a staggering 200% increase compared to the $123 million profit recorded in Q4 2023.
A major contributing factor to this substantial growth was the surge in decentralized finance (DeFi) activity during the quarter, driving heightened network participation.
Ethereums fee revenue, generated through user transactions, reached a notable milestone of $1.17 billion in Q1, marking a remarkable 155% increase from the same period in 2023 and an 80% upswing from the previous quarter.
The amplified network activity, fueled by the surge in DeFi applications, has propelled Ethereums average daily transactions in 2024 to surpass last years figures.
The current average of 1.15 million daily transactions isin close proximity tothe peak levels witnessed during Ethereums momentous run in 2021.
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Ethereum Gas Fees Hit Six-Month Low, Indicating Potential Altcoin Surge: Santiment - Cryptonews
Altcoin Expert Who Predicted Solana’s (SOL) 10000% Surge in 2021 Identifies Low-Cap Token With Similar Potential … – Crypto Reporter
The cryptocurrency market has been a hotbed of activity in recent years, with numerous altcoins rising to prominence and capturing the attention of investors worldwide. Among the myriad of digital assets, Solana (SOL) stands out as one of the most remarkable success stories of 2021. With an astonishing surge of over 10,000%, SOL catapulted into the upper echelons of the crypto market, leaving many investors in awe of its meteoric rise. Now, an altcoin expert, who accurately predicted the monumental ascent of SOL in 2021, has set their sights on a new contender: a low-cap token known as $HUMP. Priced under $0.03 at the time of writing, $HUMP has caught the attention of this seasoned analyst due to its striking similarities to SOL in terms of potential for explosive growth.
Before delving into the potential of $HUMP, its essential to examine the Solana phenomenon and understand what propelled it to such dizzying heights. Solana, often hailed as the Ethereum killer, distinguishes itself with its lightning-fast transaction speeds and low fees, making it an attractive platform for developers and users alike. The surge of interest in Solana stemmed from its ability to address some of the scalability and congestion issues plaguing other blockchain networks. Its innovative approach to consensus mechanisms, utilizing a technology called Proof of History (PoH), laid the groundwork for a robust and scalable ecosystem.
Drawing parallels between the trajectory of SOL and that of $HUMP requires a comprehensive analysis of the latters fundamentals, tokenomics, and market dynamics. While the rise of SOL was driven by its technological advancements and growing adoption, the potential of $HUMP lies in its unique value proposition within the meme coin space. $HUMP distinguishes itself by operating on the Solana network, leveraging its speed and efficiency to offer a seamless user experience. Unlike traditional meme coins burdened by transaction taxes, $HUMP eliminates these fees, providing users with a hassle-free environment for transactions and interactions within its ecosystem. Furthermore, the development team of $HUMP has prioritized community involvement through a robust governance system, fostering a sense of ownership and participation among token holders. This community-driven approach not only strengthens the decentralized financial (DeFi) ecosystem of $HUMP but also enhances its utility and potential for long-term growth.
For investors looking to capitalize on the potential of $HUMP, the process of acquiring the token is straightforward. By following a few simple steps, individuals can position themselves to ride the wave of its anticipated growth:
Investing in $HUMP transcends mere speculation; it signifies a belief in the transformative power of meme coins within the cryptocurrency landscape. By embracing $HUMP, investors align themselves with a community of forward-thinkers and innovators committed to reshaping the future of finance. With a total supply of 6,900,000,000 tokens and currently trading under $0.03, $HUMP presents an enticing opportunity for investors seeking high-growth assets. Its recent surge in trading volume and institutional interest underscores the growing confidence in its potential to replicate the monumental success of SOL. The $HUMP project has garnered attention from various media outlets, including Coinpedia, Bitcoinist, Analytics Insight, Yahoo Finance, and Crypto News Land. With potential listings on CoinMarketCap and CoinGecko, $HUMP is steadily gaining traction within the cryptocurrency market.
As the cryptocurrency market continues to grow and evolve, identifying high-potential projects amidst the myriad of options becomes increasingly crucial for investors. The emergence of tokens like Solana (SOL) and $HUMP demonstrates the transformative potential of altcoins, challenging traditional notions of value and utility within the digital asset space. While past performance is not indicative of future results, the track record of the altcoin expert who foresaw the meteoric rise of SOL serves as a beacon of hope for investors eyeing the next big opportunity. With $HUMP positioned as a low-cap token with SOL-like potential, investors have the opportunity to participate in what could be the next chapter in the ongoing saga of cryptocurrency innovation and disruption.
Click here to Buy Hump Token (HUMP):
Website: https://hump.io/
Twitter: https://x.com/Humptoken
Telegram: https://t.me/humptoken
Disclaimer: The statements, views and opinions expressed in this article are solely those of the content provider and do not necessarily represent those of Crypto Reporter. Crypto Reporter is not responsible for the trustworthiness, quality, accuracy of any materials in this article. This article is provided for educational purposes only. Crypto Reporter is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Do your research and invest at your own risk.
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Altcoin Expert Who Predicted Solana's (SOL) 10000% Surge in 2021 Identifies Low-Cap Token With Similar Potential ... - Crypto Reporter
Former Wall Street Analyst Predicts Bitcoin (BTC) Will Reach $200,000 During the 2024-25 Bull Run, Highlights Solana … – Cryptonews
Within the rapidly evolving realm of cryptocurrencies, wherein fortunes may be amassed almost overnight, professional evaluations and forecasts carry considerable weight. Now enter a former Wall Street analyst who was well-known for his audacious forecasts and keen understanding of the market. This analyst recently created a stir when he predicted that Bitcoin (BTC) will hit $200,000 during the upcoming 202425 bull run. Furthermore, Hump (HUMP), a rival cryptocurrency to Solana that is trading for less than $0.05, is highlighted as the most likely altcoin to rise with Bitcoin during the cycle. Lets explore the in-depth research and insightful commentary offered by this knowledgeable analyst.
Amidst conjecture and expectancy over the impending surge in value, the ex-Wall Street expert ventures an audacious forecast on the success of Bitcoin. The analyst projects that Bitcoin will hit a new all-time high (ATH), with the price rising to an astounding $200,000 during the 202425 cycle, based on his knowledge and comprehension of market trends.
This bullish view stems from several reasons, including growing institutional use, demand for digital assets due to the impending halving of Bitcoin, and macroeconomic dynamics that support digital assets as a buffer against rising global inflation.
As Bitcoin gains prominence due to its anticipated growth, the former Wall Street analyst highlights a lesser-known but rapidly emerging competitor in the cryptocurrency space: Hump (HUMP). Hump, positioned as a rival to Solana and priced around $0.05, has drawn notice for its cutting-edge features, active community, and potential for rapid expansion. The analyst, who draws comparisons to Solanas explosive ascent, believes that Hump has the best chance of rallying with Bitcoin during the next bull run because of its low entry price, solid fundamentals, and upcoming listing of crypto exchanges.
What distinguishes Hump from the other available altcoins? The ex-Wall Street analyst identifies several crucial elements that could support Humps success:
Experienced analysts, such as the former Wall Street specialist, provide insightful advice and a unique viewpoint to investors navigating the intricacies of the crypto market. Investors are better able to make judgments and take advantage of new opportunities when they integrate market research, fundamental analysis, and risk management techniques. With altcoins like Hump positioned for a rapid rise and Bitcoin set for a meteoric ascent, the 202425 bull run offers a plethora of opportunities for those with the insight and guts to take them.
The former Wall Street analysts forecasts that Bitcoin will reach $200,000 and that Hump will become a prominent alternative coin highlight how fascinating the cryptocurrency market is. Investors have the chance to profit on the potential of Bitcoin and other cryptocurrencies like Hump (HUMP) as the 202425 bull run develops, setting themselves up for large returns in the next months and years. Through meticulous examination, astute diversification, and an openness to novelty, investors can confidently traverse the market and unleash the latent possibilities inherent in the digital asset terrain.
Click here to Buy Hump Token (HUMP):
Website: https://hump.io/
Twitter: https://x.com/Humptoken
Telegram: https://t.me/humptoken
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Former Wall Street Analyst Predicts Bitcoin (BTC) Will Reach $200,000 During the 2024-25 Bull Run, Highlights Solana ... - Cryptonews
Altcoin season approaching? Insights from experts amid Bitcoin’s halving aftermath – crypto.news
Can altcoins rebound? Analyzing expert predictions and key indicators following Bitcoins recent halving.
In the wake of Bitcoins (BTC) recent halving event, the crypto market has been anything but predictable.
While many anticipated a surge in Bitcoins value, the reality has been a bit more subdued. In fact, the market remains relatively flat, lingering below the record-breaking highs witnessed in March 2024. Throughout this period of anticipation and adjustment, altcoins have taken a hit.
Investors seemed to have favored Bitcoin over its alternatives, causing a noticeable bleed in the altcoin market. Since March, the combined market cap of altcoins has seen a sharp decline, plummeting from a peak of $1.27 trillion to a low of $908 billion by Apr. 13.
Although there has been a modest recovery since then, with the market cap climbing back to around $1.06 trillion as of Apr. 23, the road to stability remains uncertain.
The past month has been particularly challenging for many altcoins. Approximately 80% of the top 100 altcoins have witnessed declines ranging from 2% to as much as 50%.
Even Ethereum (ETH), the leading altcoin by market cap, has not been immune to this downturn. Despite reaching a high of $3,727 on Apr. 8, its value has steadily declined in the days that followed.
As of Apr. 23, Ethereum is trading at approximately $3,200, reflecting the downward trend in the altcoin market.
With Bitcoins dominance remaining strong, where could altcoins potentially find their footing in the market? Lets find out.
In bullish market cycles, Bitcoin typically leads the charge, attracting mainstream attention and investment.
Following Bitcoins surge, a phenomenon known as the altcoin season often occurs, where capital flows into altcoins. This pattern has been observed in previous bull markets, such as those in 2017-2018 and 2020-2021, where altcoins sometimes outperformed Bitcoin.
During an altcoin season, Bitcoins dominance in the market tends to decrease as altcoins collectively gain a larger share. However, the current market situation does not reflect this trend.
Analyzing data from past cycles, we find that altcoin seasons historically commence shortly after the Bitcoin halving event.
One crucial metric to monitor for signs of an impending altcoin rally is the Altcoin Season Index. This index provides insights into the relative strength of altcoins compared to Bitcoin.
While the recent Bitcoin halving event initially caused the index to dip, indicating a period of Bitcoin dominance, its essential to note that altcoins experienced a steeper decline in value during this time.
When the Altcoin Season Index surpasses a certain threshold, typically above 75, it suggests an increased probability of an altcoin rally.
As of the latest data, the Altcoin Season Index stands at 39, indicating that an altcoin season may still be some time away.
Fortunately, it isnt #altcoin season yet, so there is still plenty of time to prepare.
But you cannot wait for the #altcoin season to begin before you start positioning yourself. Its better to get in early than late! pic.twitter.com/MtGGgk1V3D
Another critical indicator is Tether (USDT) Dominance, which tracks the market share of the USDT stablecoin compared to other cryptocurrencies.
A downward trend in USDT dominance suggests that investors are increasingly willing to take on risk by exchanging stablecoins for crypto assets, potentially signaling the beginning of an altcoin season. The current analysis of the USDT dominance chart shows that making new lower lows correlates with the early signs of altcoin rallies.
Conversely, a change towards an upward trend in USDT dominance would indicate a preference for stablecoins over altcoins, potentially delaying the onset of an altcoin season.
Timing is also crucial to consider. While altcoin rallies can occur at any time, they often coincide with specific market conditions, such as several weeks or months after Bitcoins halving events.
This delay can be attributed to the time it takes for market participants to digest the implications of Bitcoins halving and reallocate their investments accordingly.
To gauge whether altcoins are picking up pace, you should pay close attention to an increase in trading volume accompanied by sustained price appreciation across multiple altcoins.
Emperor, a seasoned crypto analyst, observes that pre-halving Bitcoin dominance was on the rise, nearing its peak support level established after the post-halving dump in 2020.
Pre-Halving BTC Dominance Pump Almost Completed.
1. Increased EXACTLY till the last support level created after post-halving dump in 2020.
2. Most altcoins already outperforming BTC. We might have a major alt rally while approaching May if BTC remains stable.
This aligns with… pic.twitter.com/msLYk8H4Dg
— Emperor? (@EmperorBTC) April 20, 2024
As we approach May, Emperor anticipates a potential major rally in altcoins, especially if Bitcoin maintains stability.
Emperor suggests a speculative scenario where Bitcoin may recover to around $68,000 or even reach its all-time high, attracting top buyers looking to exit at profitable levels.
Meanwhile, altcoins, particularly those that have shown strength in recent months, may experience rallies.
Michal van de Poppe, another respected crypto analyst, echoes the sentiment that the post-halving market sentiments are shifting towards altcoins.
He notes that as Bitcoin dominance decreases, indicating a rotation in the market, the time for altcoins is on the horizon.
Michal also suggested the role of Ethereum (ETH), which is evolving into a stronger settlement layer within the crypto ecosystem that could impact altcoin performance in the coming months.
The time for #Altcoins is on the horizon.
It depends on Ethereum, which is currently becoming a stronger settlement layer.
The likelihood of an ETF is low, but the answer is coming in a month.
I'm positioning long on this.
Hence, you should closely monitor key indicators, such as Bitcoin dominance, and keep a check on altcoins to make informed decisions about your crypto portfolios. Always remember the golden rule of investing: never invest more than you can afford to lose.
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Altcoin season approaching? Insights from experts amid Bitcoin's halving aftermath - crypto.news
Analysts predict NEO, TON, and KANG to lead 2024’s altcoin season – crypto.news
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
Neo (NEO) saw a major 44% jump within the span of a week and is now positioned towards reaching new heights.
Following this bullish momentum is the Toncoin (TON) crypto, which jumped 85% in the past month, showcasing major upward prowess and bullishness on the charts.
However, theyre not alone, as KangaMoon (KANG), an upcoming project in its presale stage, has surged 290%. We will review their on-chart performance individually to see why this is the case. By the end, we will see which crypto can see the most substantial growth and which is the best cryptocurrency to buy now.
Neo (NEO) has been in the green zone across all of its charts and is now positioned to reach even further gains. Specifically, within a week, the Neo crypto moved up 44%, and in the past year, its up 75%.
In the span of a month, the Neo price also spiked 40% and reached a peak at $23.57. As a result, $25 is the next major price barrier it needs to pass to reach new heights. The RSI and MACD data are bullish, and according to the Neo price prediction, it can end 2024 at $37.23.
Toncoin (TON) saw substantial gains as well. Not only did the crypto spike 85% in the past month, but it gained 28.4% in a single week as well. The year-to-date (YTD) climb for the Toncoin crypto was by 201.6%, and its recent peak was at $7.63. Now, the Toncoin price needs to break past the $8 price barrier to reach new heights. If it does so, according to the Toncoin price prediction, it can end 2024 at $10.45.
KangaMoon (KANG) is an upcoming Play-to-Earn (P2E) platform that features Social-Fi elements and a community-driven approach, through which anyone gets the opportunity to earn tokens and rewards by participating in various elements.
Specifically, each player takes control of their own KangaMoon character and, by doing so, can engage in battles, complete tournaments, or even other challenges.
There is a dedicated KangaMoon marketplace where anyone can buy, sell, or trade NFTs for additional capital gains. There are now over 20,000 registered users and 5,800 KANG token holders.
The presale has reached Stage 5, where KANG has raised $5 million and will break past the $5.5 million mark by the end of the week. Moreover, the crypto jumped from $0.005 to $0.0196, marking a substantial 290% jump in value.
Analysts say its future is bullish, as the crypto can climb 100x following its launch and major exchange listings.
Its clear that Neo and Toncoin experienced substantial price gains during the past trading sessions which has positioned them as some of the most bullish cryptocurrencies to jump into.
But despite their major success, most of the attention has gone towards the KangaMoon presale, as it has already provided massive ROI and can only move upwards in value from here, fueled by its massive ecosystem.
To learn more about this project, visit the KangaMoon presale website or join the community.
Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.
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Analysts predict NEO, TON, and KANG to lead 2024's altcoin season - crypto.news