Greed

bullish

Bitcoin

Toncoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/crypto-investor-sees-altcoins-in-accumulation-phase" data-wpel-link="internal" rel="noopener noreferrer nofollow">Crypto Investor Sees Altcoins in Accumulation Phase</a><br></p>
<p style="text-align: justify">Prominent cryptocurrency investor Luke Martin has indicated that altcoins may be entering a primary accumulation phase, presenting a potential buying opportunity that hasn’t been observed in three years. On August 28, Martin shared this insight with his 331,500 followers on X, highlighting that the current <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">market conditions</a> resemble a similar period in 2020 when Bitcoin’s price surged sixfold.</p>
<h2 id="major-indicators-for-investors">Major Indicators for Investors</h2>
<p style="text-align: justify">Buy signal charts for altcoins, based on historical <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">data</a>, suggest that the general altcoin market is at a favorable buying level. Martin recalled that, during the summer of 2020, Bitcoin saw a significant price increase from $10,000 to $60,000 within six months, indicating potential for a similar trend this year.</p>
<p style="text-align: justify">Additionally, <a href="https://en.bitcoinhaber.net/current-trends-and-price-targets-for-leading-cryptocurrencies" data-wpel-link="internal" rel="noopener noreferrer nofollow">crypto analyst</a> Mags noted that the altcoin market cap is displaying a falling wedge pattern, which is typically a bullish continuation signal. As of now, the total altcoin market cap stands at $195.07 billion, significantly lower than its peak of $446.85 billion in November 2021.</p>
<h2 id="what-is-the-altcoin-market-status">What is the Altcoin Market Status?</h2>
<p style="text-align: justify">Among the top 10 cryptocurrencies, Toncoin (TON) experienced the largest decline over the past week, dropping 15.31% to $5.57 following the arrest of Telegram CEO Pavel Durov in France. Since March, several altcoins have seen considerable decreases, coinciding with Bitcoin’s all-time high of $73,679.</p>
<p style="text-align: justify">Solana’s price has decreased by 29% from its March peak to $143.20, while XRP has fallen by 19.7% to $0.57 in the same period. The Crypto Fear &amp; Greed Index currently reads 29, indicating a cautious investor sentiment, down from 39 a week ago.</p>
<h2 id="key-takeaways-for-investors">Key Takeaways for Investors</h2>
<ul>
 <li>Altcoins are potentially in a primary accumulation phase, similar to a period before Bitcoin’s significant rise in 2020.</li>
 <li>The altcoin market cap shows a falling wedge pattern, often seen as a bullish signal.</li>
 <li>Current market conditions may present a buying opportunity given historical trends and patterns.</li>
</ul>
<p style="text-align: justify">Bitcoin’s dominance has slightly decreased by 0.12% in the past week to 57.20%. However, crypto analyst Benjamin Cowen suggests that Bitcoin dominance might not exceed 60%, a level he finds significant. He doesn’t expect it to reach 70%, emphasizing 60% as a critical target.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/crypto-investor-sees-altcoins-in-accumulation-phase" data-wpel-link="internal" rel="noopener noreferrer nofollow">Crypto Investor Sees Altcoins in Accumulation Phase</a></h5>

Crypto Investor Sees Altcoins in Accumulation Phase

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