Comments for Altcoin Season: “Light at the End of the Tunnel Appeared!”

0

Macro economist and cryptocurrency Analyst Henrik Zeberg believes that “alt season” is still possible, despite the double-digit price drops that some of the leading assets have recorded in the past seven days.

Henrik Zeberg, on his Twitter account with 108,500 followers, stated that the bears should not get too hopeful. According to the analyst, there is no major market crash at the moment. Instead, it’s a time when we should brace ourselves for an “alt season” we are in range.

Zeberg, “Momentum analysis” of the upcoming “altcoin He thinks it is the best indicator for the “season”. Therefore, before the severe market recession that it expects to happen in the medium term, a real alt season may come.

In the last seven days, 8 of the 10 largest altcoins by market cap have suffered double-digit losses. Binance Coin (BNB) was the top-performing cryptocurrency, down just 1.5%.

Cardano (ADA) and Polygon (MATIC) were the most damaged cryptocurrencies. Assets lost 14.1% and 13.8% respectively.

As Koinfinans.com reported, the rally of meme coins attracted attention before some of the biggest altcoin seasons in the past. In the past weeks, some new meme coins have posted crazy highs, including Pepe (PEPE) and ArbDoge AI (AIDOGE).

But things are much more complicated for these cryptoassets. For example, right now the dominance is largely in whales, and it’s relatively easy to block contract holders.

Forecasts Increase for Altcoin Season

In addition to Zeberg, Arthur Hayes, the co-founder of BitMEX, is also in anticipation of an altcoin season.

At the same time, the largest cryptocurrency, Bitcoin (BTC), is outperforming some major altcoins in the long run. In mid-April, its dominance reached almost 50%, the highest level since Q2 2021.

You can follow the current price action here.


source site-6