After Bitcoin reached a new record high, many altcoins began to gain in price, spurring discussions on the potential start of the altseason.
Market Overview
Last week, Bitcoin (BTC) reached an all-time high of approximately $123,000. Following this peak, Bitcoin's price cooled slightly, allowing other leading altcoins such as Ethereum (ETH), Ripple (XRP), and Stellar (XLM) to significantly increase in value. Consequently, Bitcoin's market dominance fell below 61%.
Analysts Views on Altseason Start
Some experts believe that the altseason is just around the corner. Analyst 0xNobler predicted that the next altseason might start within the next few days, referring to similar trends seen in past bullish cycles. He stated that "every altseason started on the same day, and this one won't be any different."
Expert Opinions on the Current Situation
Notable figures in the crypto industry, such as Davinci Jeremie, suggest that the altseason has not yet begun but warn that many may miss its onset. Meanwhile, trader Peter Brandt argues that the altseason is already at hand, referencing chart patterns indicating the beginning of a new growth cycle in the market.
The current state of the cryptocurrency market is generating increased interest in altcoins. Despite differing opinions among analysts, the consensus points towards a possible nearing of the altseason, which may present unique opportunities for investors.
