After Bitcoin’s splendid performance in the last few days, the altcoin season is now the most awaited event in the crypto market. Some of the cryptocurrencies have also exhibited a bULlish behavior with the Bitcoin price rally, but the hype for the altcoin rally is quite different. It is because it is the prime time when most crypto tokens attempt news high. And as the market has not been entirely favorable throughout the year, a few like XRP are in much need of this season. However, despite the anticipation, there is a long wait and uncertainty around it, but a crypto analyst has recently provided an exact timeline on when this will happen.
Altcoin Season To Hit In The Next 6 Months
Ash Crypto, a crypto analyst with 1.2M followers on X, has recently presented its views on the altcoin Season. More importantly, he revealed how and when it will hit the crypto market, bringing new hope for investors to see their holdings at their maximum value.
In his X post, he mentioned how BTC’s dominance reached a 42-month high, which is also the main reason behind the Bitcoin price rally to $68K. Bitcoin is the biggest cryptocurrency, with a $1.3T market cap, so it has a huge influence on the crypto market. However, the alt season will not begin as long as the BTC dominance does not drop from the current 57.7%. Interestingly, this is also Ash’s prediction, increasing its authenticity.
ALTSEASON 2.0 UPDATE
BTC dominance reached a 42 month high as Bitcoin pumped to $68,000.
BTC Dominance can jump to 61% if BTC rallies towards $80k-$90k in the next 30 days.
What does it mean for you?
– Bitcoin can give big rally & outperform Alts for few weeks.
– ALTs… pic.twitter.com/9DIxKYBGjT
— Ash Crypto (@Ashcryptoreal) October 17, 2024
He believes that if Bitcoin dominance grew to 61%, the BTC price will rally at least $80-$90K in the next 30 days, outperforming altcoins. The same is the Bitwise CIO prediction, but it is based on the US elections. However, in contrast to that, the altcoin season will begin with the decline in Bitcoin dominance. He recalled the 2020 incident when Bitcoin price broke to $19,500, causing the dominance to rise to an ATH within 18 days. More importantly, a mega alt season came on the market in the next five months, when BTC’s dominance dropped from 73% to 53%. The same might happen this time as well.
How Could Alt Season Boost Your Portfolios?
Altcoin season is known for its showering gains. As a result, altcoins witness the heaviest price jumps, pumping the holder’s portfolios. However, it is uncertain how a crypto token will behave and how high it will grow. Despite that, it is certain to witness significant rallies at this time. More importantly, Ash Crypto has also revealed how high the top cryptos will grow.
I’m ALL IN crypto right now and I still believe Q4 is gonna be giga bullish.
Bitcoin will make new ATH and pump to $125k – $180k easily.
ETH is going to $10k and Many alts will pull 50x-100x in next 6 months.
This is the time to HOLD TIGHT
Money printing season is coming
— Ash Crypto (@Ashcryptoreal) October 18, 2024
As per him, the altcoin season is just six months away, but before that, Bitcoin will hit an ATH in this Q4, where the price might go as high as $125k – $180k. Additionally, he believes that the Ethereum price will rise to $10k, which is currently struggling at $2.6K. More importantly, he predicts that many altcoins will grow at least 50-100x in the next six months with the alt season. Interestingly, another crypto analyst, Kevin Cage, believes XRP could surge 10x-500x with this alts season.
The post Altcoin Season Countdown Begins: Analysts Say Just 6 Months More appeared first on CoinGape.
