A New Altcoin Season on the Horizon: Analyst Predicts Market Surge
As the crypto market continues to evolve, a well-known analyst has made a bold prediction that the highly anticipated altcoin season is on the horizon. With a track record of accurate insights, TechDev, a pseudonymous analyst with a large following on X, believes that altcoins are gearing up to outperform Bitcoin based on historical data.
According to TechDev, altseason typically occurs when Bitcoin prints a new six-month candle after surpassing the cycle’s all-time high. Drawing from his analysis, TechDev points out that this particular candle has historically signaled a significant uptrend for altcoins, a trend that many traders have eagerly awaited.
Further delving into his analysis, TechDev highlights that altseason tends to coincide with Bitcoin tapping the upper range of its Bollinger Bands on the weekly chart. The Bollinger Bands serve as a tool for identifying potential periods of volatility expansion and determining whether an asset is overbought or oversold. According to TechDev, when Bitcoin hits this expansion line, altcoins historically experience a steep six-month run.
Based on TechDev’s analysis, he predicts that the TOTAL2 chart, which tracks the market cap of all crypto assets excluding Bitcoin and stablecoins, is poised for significant upside potential in the coming months. As of the latest data, TOTAL2 is trading at $1.476 trillion, indicating a bullish outlook for the altcoin market.
With the crypto market showing signs of a potential altcoin season, investors and traders are advised to stay informed and monitor price action closely. For the latest updates and insights, subscribe to receive email alerts directly to your inbox and follow reputable sources on X, Facebook, and Telegram.
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