Renowned trader Peter Brandt predicts the arrival of altcoin season based on market capitalization analysis. His assumptions highlight significant trends in cryptocurrencies.
Market Analysis by Peter Brandt
Peter Brandt, an old-school trader who began his career in the mid-1970s, shared his view on the imminent arrival of altcoin season. He published a chart showing the total market capitalization of cryptocurrencies, excluding Bitcoin. A 'Cup and Handle' pattern is forming on this chart, indicating a possible significant price increase. In his tweet, Brandt states: 'It's altcoin season.'
Davinci's Take on Altcoin Season
Early Bitcoin adopter and crypto YouTuber Davinci Jeremie also expressed his thoughts on the matter. In a recent tweet, he stated that 'altseason hasn’t started yet.' However, he added, 'when it’s here, most will be too late.'
Future of Altcoins and Bitcoin
Analysis shows that the total market capitalization currently stands at $1.39 trillion, approaching the peak of $1.7 trillion reached in 2021. Brandt and other analysts predict that capital may begin shifting from Bitcoin to altcoins when Bitcoin's dominance falls below 60%. Davinci also shares his views on Bitcoin's future, highly assessing its growth potential.
In the current market conditions, there is increasing interest in altcoins, which could indicate potential changes in capital allocation in the near future.
