Nansen Expects a New Low in Altcoins! He gave the date!

Bitcoin While a major bull rally is expected in altcoins, there are many predictions about its timing.

At this point, market analysts altcoin He pointed out June for the start of the rally. Accordingly, analysts stated that the cryptocurrency market will reach its local bottom in June and said that Bitcoin must first break out of its current range for the altcoin rally to begin.

Firstly Aurelie Barthere, chief research analyst at Nansen, said: He said that the altcoin market was hit with the halving and started to decline. According to the analyst, even if altcoins see a potential local bottom, the Bitcoin price will first need to make an upward move for an altcoin bull rally to begin.

Speaking to Cointelegraph, Nansen analyst Barthere said:

“Altcoins are high beta cryptocurrencies. They do well when the sentiment in the market is very bullish and that’s when they become bullish.

But since mid-March, sentiment among crypto investors has been less enthusiastic.
Additionally, while the BTC price is also consolidating around the 20-day exponential moving average, altcoins are experiencing more volatility.

For altcoins to outperform, we need an upside breakout in Bitcoin and a clear resumption of the BTC uptrend.

“If BTC goes into upward mode again, increases may also be seen in altcoins.”

Apart from the Nansen analyst, Qubic Labs Accelerator analyst Alex Onufriychuk also Bitcoin Evaluated the altcoin relationship.

Historically, altcoins BTC The analyst said that altcoins could reach local bottoms around June as market sentiment and Bitcoin price remain under pressure as inflows in US spot BTC ETFs decrease.

“With not enough new liquidity coming from spot Bitcoin ETFs in the US and Hong Kong, there is a possibility that BTC and altcoins will find local bottoms by June.

This shows that the consolidation period may be extended. Afterwards, the rise may begin.”

*This is not investment advice.