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Analyst Calls Start Of Altcoin Season Amid Deviation Of Cyclical Lows – Details
- Bitcoin and Ethereum are currently consolidating, with altcoins like Solana and Dogecoin not showing early upside momentum.
- A crypto analyst known as Prometheus on X suggests that altcoin investors are on the brink of significant profit due to the cyclical behavior of the crypto market.
- The altcoin rally prediction is based on the $TOTAL3ESBTC chart, indicating a deviation below cyclical lows similar to past market cycles.
- During previous cycles, Bitcoin absorbed market liquidity and outperformed other assets before an aggressive altcoin rebound phase called the 'money printer' cycle.
- The current $TOTAL3ESBTC chart shows a deviation below cyclical lows as Bitcoin dominance expands and its price rises, suggesting a future altcoin-led breakout.
- The 'money printer' phase for altcoins is anticipated as Bitcoin continues to absorb liquidity, paving the way for an upcoming altcoin rally.
- Altcoin rallies typically occur when Bitcoin cools off slightly after a strong rally, allowing liquidity to shift from Bitcoin to altcoins, resulting in explosive but short-lived price surges.
- The analyst warns about mistiming the altcoin move, noting that only a small percentage of traders will exit in profit despite the potential for significant gains.
- Bitcoin is currently trading at $104,730 with a market dominance of 64.0%, showing a 1.18% increase in the past 24 hours.
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