Featured Image from Unsplash.com, Chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
With only a few weeks before Q4 begins, investors and market watchers remain vigilant of the market\u2019s performance. Many expect the next quarter will kickstart the rally\u2019s second leg up, suggesting that most altcoins will explode in the coming months. Several analysts are bullish about the upcoming performances, hinting that the time to accumulate these cryptocurrencies is near its end and that the alt season is near. Related Reading: Crypto Investor Loses $16 Million Amid Friend.tech\u2019s Controversy And Token Crash Investors\u2019 Last Call Before The Altseason Bitcoin (BTC) and Ethereum (ETH) have taken a hit throughout Q3\u2019s market retraces. Since July 1, the flagship cryptocurrency\u2019s price fell more than 10%, while the \u201cKing of altcoins\u201d plunged by over 30%. Nonetheless, several altcoins have led the market bounces amid the volatility, displaying a remarkable performance during the shakeouts. Many of the alts have outperformed their BTC pairs, as crypto analyst Micha\u00ebl van de Poppe stated. Per the post, many technical indicators show that \u201cthe Bitcoin pairs of many of the altcoins have been crawling up.\u201d The analyst also considers that BTC and alts have bottomed out and that a market\u2019s next moves will \u201cbe great.\u201d Moreover, altcoins\u2019 dominance seems \u201cready to take the spotlight.\u201d Analyst and trader Titan of Crypto recently noted that Bitcoin dominance \u201cis on the verge of printing a new lower high.\u201d To the analyst, this could trigger the Altseason between Q4 2024 and Q1 2025, which could last until mid-2025. Meanwhile, crypto analyst Alex Clay suggested that investors\u2019 chance to accumulate alts might end soon as \u201cUptober\u201d approaches. To the analyst, the second correction wave of the Elliot Impulse Wave is over. As a result, cryptocurrencies, excluding BTC and ETH, are ready to begin the third bullish wave. Clay highlighted that the second correction wave displayed a bullish flag pattern. Additionally, he noted that altcoins\u2019 market capitalization has been supported \u201cat the strong confluence of EMA 100 + MA 200 + Key zone.\u201d Based on this, he forecasted the sector\u2019s mid-term target could hit a market capitalization of $1.3 trillion by May 2025 before the fourth wave. Clay also predicted a \u201cconservative\u201d long-term target of a $1.65 trillion market cap for the final impulse wave. Will Altcoins Hit $2 Trillion? Miky Bull highlighted Altcoins\u2019, including ETH, market cap impulse. To the trader, the cryptocurrencies\u2019 market cap is getting ready to break from the bullish flash pattern, potentially targeting a mark above the $1.8 trillion level. Miky previously suggested that the alts chart follows \u201cthe 2020 blueprint.\u201d However, he considers they will differentiate by the duration of the re-accumulation phase, as he deems this cycle\u2019s expansion will be \u201clonger and huge.\u201d Related Reading: Analysts Say Bitcoin Will Break $90,000 In Q4 2024 But This Must Happen First Another crypto analyst, Moustache, noted that alts have been in a 2-year-long cup and handle pattern, which is considered extremely bullish. The pattern suggests that altcoins\u2019 market cap will significantly increase from the handle lows. To the trader, if this scenario plays out, alts target a $2.14 trillion market cap by 2025. As of this writing, altcoins sit at a market cap of $558 billion, a 10% decrease since Q3 began. Featured Image from Unsplash.com, Chart from TradingView.com<\/p>\n","protected":false},"author":614,"featured_media":631812,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[142,93024,41995,428,13510,1119,78790,26263,10923,85288,89756,8323,1946,34799,87828],"class_list":["post-641034","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins","tag-altcoins-market-cap","tag-altseason","tag-bitcoin","tag-bitcoin-dominance","tag-btc","tag-btcusdt","tag-crypto-analyst","tag-crypto-market","tag-crypto-market-crash","tag-crypto-trader","tag-eth","tag-ethereum","tag-total-market-cap","tag-total3"],"acf":[],"yoast_head":"\n
Altcoins Takeover? Analyst Says Accumulation Time Will End Soon<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n