Altcoin
Are Altcoins Gearing Up for 500% Gains? Here’s the truth
Bitcoin’s recent downtrend and declining transaction volumes have sparked speculation among analysts about the upcoming altcoin season. Moving on to the current state of the cryptocurrency market, Altcoin Buzz analyst noted Bitcoin’s struggle to maintain support around $60,000. Also discussed was Santiment’s observation regarding increased fear among traders despite Bitcoin’s recent price range of $65,000 to $66,000.
Despite this correction, analysts, including Michael Van De Poppe, have suggested that this could signal the end of the downtrend for altcoins. Poppe predicted a potential capital rotation towards altcoins in the near future. He explained potential market fatigue and the accumulation strategy adopted by whales, suggesting that patient investors could soon benefit from market stabilization.
Poppe said that in the past some altcoins have risen 300 to 500% after similar declines. He is optimistic about the future of altcoins. Despite a 50% decline from the 2021 peak, altcoin market capitalization has recently fallen another 30% in this correction. He expects altcoins to potentially rise 100% as this correction nears its end, perhaps following Bitcoin’s path.
Altcoin Buzz has shared exciting news on two new projects that offer early investment opportunities. The first is Landrocker, a new gaming project that launched its token, LRT, on Mexi and Uniswap. LRT saw a massive 10x increase in just 24 hours of its launch.
The second project is X-Raise Wallet, which after two years of development and rigorous security checks, launches its Raise token through an initial DEX offering (IDO). Raise integrates advanced ZK Sync features such as account abstraction and transaction batching to improve the user experience for DApps and games.
As Bitcoin tests critical support levels, questions arise about its resilience through the end of the month. He pointed out that many altcoins have suffered steep declines, with some falling as much as 50% from peak levels in 2021. Despite this, he expressed optimism about a possible return, noting that in the past altcoins have recovered strongly after experiencing declines in value. similar market.