2024

Bitcoin

The post <a href="https://coinpedia.org/news/crypto-crash-biggest-altcoin-season-in-market-history-is-brewing-behind-the-scenes/">Crypto Crash: Biggest Altcoin Season In Market History is Brewing Behind The Scenes</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
<a href="https://markets.coinpedia.org/bitcoin/" target="_blank" rel="noreferrer noopener">Bitcoin</a> has entered the red zone, showing no signs of an upward recovery soon. Most of the top 10 coins are also trading in the red, and discussions about an altcoin rally or season have diminished due to the negative sentiment. 
However, Crypto Crusader explained that the biggest <a href="https://coinpedia.org/news/altcoin-season-index-at-18-major-coins-face-challenges-as-bitcoin-season-emerges/" target="_blank" rel="noreferrer noopener">altcoin season in crypto</a> history is developing behind the scenes, despite very low retail sentiment. He compared the 2018 and 2022 “dead cat bounces” and noted the current price action on the TOTAL3 index. In late November to early December, altcoins began to range before making a significant upward move. In 2020, altcoin sentiment was very poor, with many in the retail sector believing the altseason was over. 
He wrote, “We have been ranging longer, which is expecting with a much higher market valuation. This next move will take us past the previous all time high on the <a href="https://coinpedia.org/news/altcoin-market-might-crash-30-40-if-bitcoin-price-drops-below-60k-this-week/" target="_blank" rel="noreferrer noopener">altcoin market</a> and Bitcoin will be at $100K+ most likely.” 
The market has been ranging longer this time due to a higher overall valuation. The next move is expected to surpass the previous all-time high for altcoins, with Bitcoin likely reaching over $100K. For those feeling bearish, the analyst suggests zooming out to understand the current cyclical position, indicating that the exciting part is just about to start. 
Regarding Bitcoin, the analyst offered a straightforward perspective. He believes Bitcoin will maintain its uptrend, though it might dip to the $60,185 level. The key focus for the week is the weekly candle close, which he is closely monitoring. He feels that Bitcoin is either near its bottom or has already reached it. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Very simple view here for Bitcoin. I personally see us maintaining this uptrend, however we could still wick to the $60,185 level. The weekly candle close is the key this week and is what I am watching for more closely. Let's see what happens, but I personally think we are… <a href="https://t.co/kHbcdnEMzj">pic.twitter.com/kHbcdnEMzj</a>— Nick | Crypto Crusader (@NCashOfficial) <a href="https://twitter.com/NCashOfficial/status/1805155830859182110?ref_src=twsrc%5Etfw">June 24, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<a href="https://x.com/CredibleCrypto" target="_blank" rel="noreferrer noopener nofollow">Credible Crypto</a> also opened up about the sentiment around meme coins and said, “I think certain meme majors will recover and go on to make new all time highs once this larger correction is complete and after BTC tops out. Not all memes will but that goes without saying. The issue is because most of these memes don’t have any fundamentals behind them their success is solely dependent on attracting new money and attention. If they fail to do this they are dead in the water.” 
Read Also: <a href="https://coinpedia.org/news/zachxbt-slams-ronaldinho-for-attempting-to-influence-crypto-market/" target="_blank" rel="noreferrer noopener">Crypto Expert Slams Footballer Ronaldinho’s “Pump-and-Dump” Dirty Play</a>

Crypto Crash: Biggest Altcoin Season In Market History is Brewing Behind The Scenes

CoinPedia News

Artikel lain yang dipublikasikan pada 24 Jun 2024

Jason Derulo Becomes Latest Celebrity to Promote Meme Coin, Faces Rug Pull Allegations

New Meme Coin Sealana Listing Soon - Experts Predict 10x Rally Post Launch

BREAKING: Jump Crypto President Kanav Kariya Resigns Amid CFTC Investigation

Near Protocol and Solana’s Losses Drive Investors to the Top Crypto Presale in 2024 As MoonBag Of...

Crypto News: SEC Drops Ether (ETH) Investigation, Shiba Inu (SHIB) Gains Support From British Red...

Bitcoin derivatives turn bearish as traders anticipate sub $60K BTC price

Bergabunglah dengan buletin gratis kami untuk pembaruan kripto harian!