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<ul class="news-points"> 
 <li><strong>The altcoin market cap may reach $440 billion in 2024 but first, there has to be a plunge.</strong></li> 
 <li><strong>The AO and MFI with the ETH/USD chart showed increasing bearish momentum.</strong></li> 
 <li><strong>Another analyst predicted that ETH could go as low as $870 before any other hike.</strong></li> 
</ul> 
<p>The much-anticipated altcoin season may not happen again as 2023 nears its end. This was the opinion of pseudonymous trader Altstreet Bets. According to him, many altcoins may lose as much as 20% to 30% of their current value before the year runs to a close.</p> 
<h2 class="wp-block-heading" id="h-no-altcoin-season-this-year"><a></a><strong>No Altcoin Season This Year?</strong></h2> 
<p>For the unaccustomed, an altcoin season is a period where many altcoins outperformed <a href="https://coinedition.com/bitcoin-price-action-mirroring-previous-pre-halving-cycles-analyst/">Bitcoin (BTC)</a>. While this period comes with a lot of volatility, profits are not guaranteed. Previously, a number of analysts had opined that there would be an altcoin season this year. But with the last quarter in, it’s looking very unlikely.</p> 
<p>However, Altstreet Bets also mentioned that the possible plunge in price does not mean that altcoins won’t perform well anymore. But their season to put up an impressive performance could be in 2023.</p> 
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   <p lang="en" dir="ltr">Altcoins will dump in coming weeks, but what follows from there is big alt season. 2024 will be lif…</p>
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<p>The post <a rel="nofollow" href="https://coinedition.com/altcoins-may-be-doomed-for-the-rest-of-the-year-heres-why/">Altcoins May Be Doomed for the Rest of the Year, Here’s Why</a> appeared first on <a rel="nofollow" href="https://coinedition.com">Coin Edition</a>.</p>

Altcoins May Be Doomed for the Rest of the Year, Here’s Why

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