bullish

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/crypto-investor-identifies-altcoins-in-primary-accumulation-phase/" data-wpel-link="internal">Crypto Investor Identifies Altcoins in Primary Accumulation Phase</a> 
A famous crypto investor believes altcoins might be in a primary accumulation phase and points to a buy signal not seen in three years. Crypto investor Luke Martin explained to his 331,500 X followers on August 28 that altcoins are currently in a buying process. 
<h2 class="p1" style="text-align: justify" id="exciting-announcements-for-the-altcoin-market">Exciting Announcements for the Altcoin Market</h2> 
Altcoin buy signal charts provide <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> with an indicator of when the general altcoin market is at a buying level according to historical <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a>. Martin mentioned that when Bitcoin was at this level in the summer of 2020, its price sextupled in the second half of the year: 
<blockquote> 
 “The price rose vertically from 10,000 to 60,000 in the next 6 months.” 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-384127 size-full" src="https://coin-turk.com/wp-content/uploads/2024/08/alts-veri.webp" alt="" width="1846" height="760"> 
Meanwhile, crypto investor Mags revealed that the altcoin market cap has formed a falling wedge pattern, which is a bullish continuation model. At the time of writing, the total altcoin market cap was $195.07 billion according to TradingView. MN Consultancy founder Michael van de Poppe emphasized in his August 25 X post that this is still 47% below its peaks. The altcoin market cap reached $446.85 billion in November 2021. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-384126 size-full" src="https://coin-turk.com/wp-content/uploads/2024/08/mags.webp" alt="" width="1848" height="1199"> 
<h2 class="p1" style="text-align: justify" id="what-s-happening-on-the-altcoin-front">What’s Happening on the Altcoin Front?</h2> 
Among the top 10 cryptocurrencies, Toncoin (TON) experienced the biggest drop in the past seven days, falling 15.31% to $5.57 after Telegram CEO Pavel Durov was arrested in France on August 24. Other altcoins have seen significant declines since March, coinciding with Bitcoin’s all-time high of $73,679. 
Solana’s price has dropped 29% from its March peak to $143.20, while XRP has fallen 19.7% from its year-to-date high to $0.57 in the same period. Overall, investor sentiment in the crypto market remains cautious, with the Crypto Fear &amp; Greed Index showing a Fear score of 29. The indicator has dropped 10 points from 39 a week ago. 
Meanwhile, Bitcoin dominance has decreased by 0.12% over the past seven days to 57.20%. However, <a href="https://en.coin-turk.com/bitcoin-moves-toward-70000-mark/" data-wpel-link="internal">crypto analyst</a> and Into The Cryptoverse founder Benjamin Cowen believes this is not far from the peak he anticipated for Bitcoin dominance at 60%: 
<blockquote> 
 “I don’t think it will return to 70%. My target for Bitcoin dominance was 60%.” 
</blockquote> 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/crypto-investor-identifies-altcoins-in-primary-accumulation-phase/" data-wpel-link="internal">Crypto Investor Identifies Altcoins in Primary Accumulation Phase</a></h5>
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Crypto Investor Identifies Altcoins in Primary Accumulation Phase

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