2024

Bitcoin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/analyst-predicts-significant-price-rises-for-high-quality-altcoin-projects/" data-wpel-link="internal">Analyst Predicts Significant Price Rises for High-Quality Altcoin Projects</a> 
Real Vision’s chief <a href="https://en.coin-turk.com/bitcoin-price-hovers-around-60000-as-investors-remain-cautious/" data-wpel-link="internal">crypto analyst</a> Jamie Coutts claimed that high-quality altcoin projects could soon see significant price rises. Coutts added that he sees strong signals suggesting the market might be near a bottom. 
<h2 style="text-align: justify" id="strong-analyst-believes-altcoins-will-continue-to-struggle-strong">Analyst Believes Altcoins Will Continue to Struggle</h2> 
Coutts’ new dip prediction is based on a connection between the top 200 equal-weighted index and the market cap ratio. The top 200 equal-weighted index tracks the performance of the 200 largest cryptocurrencies by market cap compared to Bitcoin (BTC). According to Coutts, historical data supports this indicator, and some altcoins may soon complete their corrections and reverse. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-378283" src="https://coin-turk.com/wp-content/uploads/2024/08/Altcoin-Piyasasi.jpeg" alt="" width="1200" height="610"> 
The analyst pointed out that small-cap altcoins are currently underperforming significantly. He emphasized that small-cap altcoins will struggle until Bitcoin surpasses its all-time high. However, he noted that for the market to recover overall and experience an altcoin season, this ratio needs to turn upward. 
<h2 style="text-align: justify" id="strong-potential-timeline-for-altcoin-recovery-strong">Potential Timeline for Altcoin Recovery</h2> 
Another prediction by the analyst is that the altcoin market recovery may not occur until the end of 2024 or early 2025. Coutts predicts that most altcoins are underperforming compared to BTC and that this recovery process could take several months. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-378284" src="https://coin-turk.com/wp-content/uploads/2024/08/Altcoin-Piyasasi-1.jpeg" alt="" width="1200" height="610"> 
According to his analysis, the current situation resembles the sudden market drops experienced in 2020. However, this time he predicts the market will enter a long-term recovery phase rather than a crash like the one at the end of 2022. 
Coutts advised altcoin <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> to be patient, stating that this market cycle could be a historic opportunity. He added that although the altcoin recovery process will take time, the market might be approaching a bottom, which could mean significant <a href="https://newslinker.co/what-are-the-future-technologies/" target="_blank" rel="noopener" data-wpel-link="exclude">future</a> gains. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/analyst-predicts-significant-price-rises-for-high-quality-altcoin-projects/" data-wpel-link="internal">Analyst Predicts Significant Price Rises for High-Quality Altcoin Projects</a></h5>
The post <a href="https://en.coin-turk.com/analyst-predicts-significant-price-rises-for-high-quality-altcoin-projects/" data-wpel-link="internal">Analyst Predicts Significant Price Rises for High-Quality Altcoin Projects</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Analyst Predicts Significant Price Rises for High-Quality Altcoin Projects

Table of Contents

COINTURK NEWS

Other articles published on Aug 9, 2024

Crypto Analyst Predicts Massive Gains For Dogecoin And ETFSwap (ETFS) - 600x Surge Incoming?

Pump.fun's High Failure Rate Revealed: 98.6% of Memecoins Never Launch

Bitstamp & Stripe Join Forces in Expanding Crypto Onramp

Bitcoin Volatility Soars to New Highs, Signals Market Shifts

SEC Pushes Back Against Coinbase’s Demand for Gensler Emails on Digital Assets

Latest Meme ͏Co͏in To͏ ͏Buy Right Now, F͏ri͏d͏ay͏,͏ ͏Augu͏st͏ 09 – Base ͏Dawgz͏, M͏o͏g Coin, Maga, D͏og ͏(Runes)

Join our free newsletter for daily crypto updates!