2024

Bitcoin

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 <p class="paragraph">Altcoins are all cryptocurrencies except for Bitcoin (BTC), which dominates the cryptocurrency market with over 50% of its total capitalization. Every cycle, however, the altcoins massively outperform the leader with staggering gains—this is known as an altseason, likely to start.</p>
 <p class="paragraph">Notably, many cryptocurrency traders and analysts have warned about an imminent altseason throughout 2024, which has not yet come. Now, a known crypto and stock trader, <em>Jelle</em>, provided a clearer perspective on the altcoins’ cycle inside a bull market.</p>
 <p class="paragraph">According to him, altcoins <a rel="noopener noreferrer nofollow" title="present" href="https://thebittimes.com/tag/present.html">present</a> investors with a “<a rel="noopener noreferrer nofollow" title="golden" href="https://thebittimes.com/tag/golden.html">golden</a> <a rel="noopener noreferrer nofollow" title="opportunity" href="https://thebittimes.com/tag/opportunity.html">opportunity</a> once in a few <a rel="noopener noreferrer nofollow" title="years" href="https://thebittimes.com/tag/years.html">years</a>” to “make a lot of money.” Moreover, Jelle believes this <a rel="noopener noreferrer nofollow" title="opportunity" href="https://thebittimes.com/tag/opportunity.html">opportunity</a> has already started playing out and urges traders to “not get shaken out.”&nbsp;</p>
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    </path> <path d="M15.996 18.6668L20.4626 14.2815C20.738 14.0166 20.9571 13.6989 21.1068 13.3473C21.2564 12.9957 21.3336 12.6176 21.3336 12.2355C21.3336 11.8534 21.2564 11.4752 21.1068 11.1236C20.9571 10.7721 20.738 10.4543 20.4626 10.1895C19.9074 9.64148 19.1587 9.33422 18.3786 9.33422C17.5985 9.33422 16.8498 9.64148 16.2946 10.1895L15.996 10.4801L15.6973 10.1881C15.1423 9.64023 14.3938 9.33301 13.614 9.33301C12.8341 9.33301 12.0856 9.64023 11.5306 10.1881C11.2552 10.453 11.0361 10.7707 10.8865 11.1223C10.7368 11.4739 10.6597 11.852 10.6597 12.2341C10.6597 12.6162 10.7368 12.9944 10.8865 13.346C11.0361 13.6975 11.2552 14.0153 11.5306 14.2801L15.996 18.6668Z" fill="#EF4444"> 
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 <p class="paragraph">He shared this warning in a post on X on May 29, together with a long-term cycle technical analysis.</p>
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    <p lang="en" dir="ltr">Once every few years, the #Altcoins market presents you with a golden opportunity – to make a lot of money.<br><br>That opportunity is here, once again.<br><br>Do not get shaken out. pic.twitter.com/eMLpavkebh</p>— Jelle (@CryptoJelleNL) May 29, 2024
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 <h2 class="wp-block-heading" id="h-altcoins-cycle-and-a-golden-once-in-a-few-years-opportunity">Altcoins cycle and a golden ‘once in a few years’ opportunity</h2>
 <p class="paragraph">In particular, the chart shows <em>TradingView</em>‘s “Crypto Total Market Cap Excluding BTC $” index (TOTAL2) since 2014. This is the most used index to measure altcoins’ performance, currently with a $1.14 trillion capitalization.</p>
 <p class="paragraph">Interestingly, Jelle traced a key level <a rel="noopener noreferrer nofollow" title="present" href="https://thebittimes.com/tag/present.html">present</a> in each past cycle, touching the bull market’s support and the bears‘ resistance. These levels show 450, 720, and, now, 650 days of accumulation in each cycle. Additionally, the analyst highlighted a zone called “pre-bull market consolidation,” which we are currently at.</p>
 <p class="paragraph">If this pattern plays out, an altseason is imminent and could bring huge gains for traders positioning at this point.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="580" src="https://cdn.thebittimes.com/images/2024/05/30/137f187a6a349539b2d4feb04ac662d1.webp" alt="" class="wp-image-179393" srcset="https://cdn.thebittimes.com/images/2024/05/30/137f187a6a349539b2d4feb04ac662d1.webp 1024w, https://cdn.thebittimes.com/images/2024/05/30/137f187a6a349539b2d4feb04ac662d1.webp 300w, https://cdn.thebittimes.com/images/2024/05/30/137f187a6a349539b2d4feb04ac662d1.webp 768w, https://cdn.thebittimes.com/images/2024/05/30/137f187a6a349539b2d4feb04ac662d1.webp 1536w, https://cdn.thebittimes.com/images/2024/05/30/137f187a6a349539b2d4feb04ac662d1.webp 2048w" sizes="(max-width: 1024px) 100vw, 1024px">
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   TOTAL2 chart of the Altcoins Cycle. Source: <em>Jelle (@CryptoJelleNL)&nbsp;</em>
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 <h2 class="wp-block-heading" id="bitcoin-dominance-and-the-altcoin-opportunity">Bitcoin dominance and the altcoin opportunity</h2>
 <p class="paragraph">Another useful indicator to identify opportunities on altcoins is the Bitcoin Dominance (BTC.D). This index has been in a downtrend since 2017, currently at 53.87%, rebounding from the trend line’s resistance at 55%. BTC.D has notable support at around 40%, which is likely to be tested in the occurrence of another altseason.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="662" src="https://cdn.thebittimes.com/images/2024/05/30/728392b7079bcb6b9cdf0530b938a772.webp" alt="" class="wp-image-179394" srcset="https://cdn.thebittimes.com/images/2024/05/30/728392b7079bcb6b9cdf0530b938a772.webp 1024w, https://cdn.thebittimes.com/images/2024/05/30/728392b7079bcb6b9cdf0530b938a772.webp 300w, https://cdn.thebittimes.com/images/2024/05/30/728392b7079bcb6b9cdf0530b938a772.webp 768w, https://cdn.thebittimes.com/images/2024/05/30/728392b7079bcb6b9cdf0530b938a772.webp 1536w, https://cdn.thebittimes.com/images/2024/05/30/728392b7079bcb6b9cdf0530b938a772.webp 1876w" sizes="(max-width: 1024px) 100vw, 1024px">
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   Bitcoin Dominance (BTC.D) weekly chart. Source: <em>TradingView</em> / Finbold
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 <p class="paragraph">However, it is important to understand that past action does not guarantee future events. An altseason might not happen even with the spotted multi-year pattern. Demand plays a crucial role in impulsing altcoins’ golden opportunity, which is why looking for solid fundamental projects is essential.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/brace-for-gains-altcoins-present-a-once-in-a-few-years-golden-opportunity-tbt90391.html">https://thebittimes.com/brace-for-gains-altcoins-present-a-once-in-a-few-years-golden-opportunity-tbt90391.html</a></p>

Brace for gains: Altcoins present a ‘once in a few years’ golden opportunity

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