Markets
Crypto Analyst Predicts Upcoming Altseason, Citing Historical Market Trends Observed in 2018-21
Cryptocurrency markets could be on the verge of an exciting shift, according to a prominent crypto analyst who recently took to Twitter with bold predictions. The analyst’s tweet suggests that what we have witnessed so far in altcoin movements it could just be the beginning of a larger uptrend, comparing it to market structures observed from 2018 to 2021.
Altcoin season is coming!!!
According to Mustache’s tweet, the current movements in altcoins could signify the start of a significant uptrend reminiscent of market structures seen between 2018 and 2021.
Drawing on historical parallels, Mustache suggests that we could be on the verge of experiencing the most substantial season in at least four years. This anticipated peak season typically involves pronounced price increases and increased trading activity in several alternative cryptocurrencies.
However, the analyst points to specific technical indicators, including the formation of a falling wedge pattern and favorable RSI (Relative Strength Index) readings, as key factors supporting this bullish outlook.
Meanwhile, the tweet raises the intriguing question: are we just weeks away from witnessing the start of a parabolic curve in altcoin markets?
Bitcoin Consolidation Ahead
On the other hand, crypto analyst Jason Pizzino highlighted key insights into the current state of the cryptocurrency market. According to Pizzino, the longer Bitcoin remains below its all-time high (ATH) during consolidation, the greater the likelihood of a right-translated cycle and significant altcoin season.
However, Pizzino warned that even if the market successfully reaches new highs, this does not guarantee universal success for all altcoins, especially those that performed well during late 2023 and early 2024.