A naukri.com initiative
Cryptopotato
10h
111
Image Credit: Cryptopotato
Are Altseason Expectations Wishful Thinking? This Metric Hints So
- Analysts have been predicting the start of the altcoin season based on Bitcoin and Ether's price performance.
- CryptoQuant analysts suggest that expectations of an altseason in this cycle may be wishful thinking.
- Altcoins have been underperforming despite Bitcoin rallies and price spikes.
- The 1-Year Cumulative Buy/Sell Quote Volume Difference for Altcoins needs to turn positive for the altseason narrative to change.
- Currently, the metric is at -$36 billion, indicating a lack of altcoin investor activity.
- Altcoins are struggling even as Bitcoin consolidates around $104,000.
- Experts believe there is still hope for altcoins, with some pointing to Ether's potential breakout triggering an altseason.
- Some analysts see aligning altseason indicators and expect another leg up for Bitcoin.
- CryptoQuant founder anticipates only select altcoins rallying if an altseason occurs in this cycle.
- The dynamic of this bull season is viewed as different from past cycles.
- Analysts remain optimistic despite the current lackluster performance of altcoins.
- The 1-Year Cumulative Buy/Sell Quote Volume Difference for Altcoins remains a key metric to watch for altcoin market activity.
- Expectations for a full altseason or FOMO among altcoin investors may be premature without this metric turning positive.
- The fate of the altcoin market is closely tied to the performance of Bitcoin and Ether.
- Hope persists that altcoins could still see a significant rally in the future.
- The assessment questions the widespread expectation of an imminent altseason during this particular market cycle.
- Crypto market participants continue to monitor various indicators and metrics to gauge the potential for an altseason.
Read Full Article
6 Likes
For uninterrupted reading, download the app