Market analysts and cryptocurrency platforms are signaling the potential onset of a new altcoin season in the coming weeks. Coinbase has noted a 50% increase in altcoin market capitalization since July and a decline in Bitcoin dominance below 60%, suggesting a shift in investor interest toward alternative cryptocurrencies. Additionally, $2.7 trillion in U.S. money markets is reportedly poised to flow into the crypto space. Technical indicators, such as Bitcoin's bearish MACD cross, have been compared to setups seen in 2017 and 2021, historically preceding substantial altcoin rallies. Predictions include Ethereum potentially reaching $10,000 and altcoins experiencing gains ranging from 20 to 100 times their current values. While Bitcoin has recently retraced nearly $10,000 after hitting a new all-time high, some analysts question whether the Bitcoin bull market has peaked, emphasizing that the most significant gains may now come from Ethereum and other altcoins. Market participants are advised to position their portfolios accordingly in anticipation of these shifts.
Bitcoin has retraced nearly $10,000 in just a few days following a new all-time high, so is it possible weโve just seen the cycle peak?! ๐จ Here weโll look at the data to see if this BTC bull market really has topped alreadyโฆ ๐ฏ Watch the full video analysis below! ๐ https://t.co/SR95EVTvgj
Bitcoin may push a bit higher. But $ETH and Altcoins are where the real gains will be. Position accordingly! ๐
Bitcoin & Crypto PRIMED For BULLISH Reversal Into September? https://t.co/z9os1lHrLv