Cryptocurrency market has been exhibiting a highly volatile (volatile) price movement for a while. This volatility is described by many as the pioneer of big movements. While the Bitcoin price has been moving sideways for a while, altcoins are preparing for the big move. If altcoins can evaluate this movement well, there is a high probability of a big upward movement.
Whales and institutional investors seemed calm for a while. On the other hand, retail investors started to move and their interest increased. This interest, on the other hand, prevented their great collapse despite the unfavorable conditions.
🤞 The #crypto crowd is far from euphoric toward markets. But the persistent negativity and bearishness has faded as traders anticipate a rebound here in Q4. $BTC, $BNB, $XRPand $ADA all indicate crowd bullishness, while $ETH is just slightly bearish. https://t.co/NgcUgicgag pic.twitter.com/oJ46yWfgD7
— Santiment (@santimentfeed) October 20, 2022
The data shared by the leading on-chain analytics firm Santiment is also noteworthy. The finding that traders expect Bitcoin and popular altcoins to increase in the 4th quarter of 2022 can be seen in the report.
Things Are Going Bad at Altcoin Leader
Interestingly, EthereumThe feelings towards . Emotions went ‘declining’ especially after Ethereum Merge. However, it is possible for a recovery in prices to create an increase in ETH price.
Koinfinans.com According to the news we have previously reported, many analysts also believe that the altcoin season has arrived. Altcoins Although there is no common name about the favorites of the season, there is a general feeling of rise in many posts.
A analyst According to a chart published by the altcoin market cap, it reflects a previous event that resulted in a massive spike. The market cap, which was previously in 2017-18, broke through the critical resistance and corrected significantly before sparking a massive bull run to mark new highs around $876.26 billion.
According to the analyst, altcoins are now very close to igniting a rally that marks the biggest alt season since 2017.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.