Crypto market analyst known as Moustache predicts significant changes in the altcoin market. According to him, the market is ready for an explosive growth similar to the bullish trends of 2017 and 2021.
Altcoin Volatility Forecast
In his latest tweet, Moustache expressed his belief that the altcoin market, represented by the TOTAL2 index, is on the verge of massive volatility. TOTAL2 tracks the total market capitalization of all cryptocurrencies excluding Bitcoin, and any significant movement in this index could have a profound impact on altcoin prices. According to him, the market might not follow its usual sideways patterns and could instead experience a dramatic breakout, similar to what happened in the bullish trends of 2017 and 2021.
Delay in Altcoin Season
According to Blockchaincenter.net’s Altcoin Season Index, the market is still tilted in favor of Bitcoin. The index, tracking whether Bitcoin or altcoins are performing better, shows that if it is below 25, Bitcoin is gaining more attention. Conversely, an index above 75 indicates stronger altcoin performance. Currently, the index stands at 33, indicating that while altcoins have room for growth, Bitcoin remains the preferred investment for many.
Conclusion
Recent data shows that a few altcoins, such as AAVE, SUI, and TRX, have seen gains of over 20% in the last 90 days. However, most top altcoins are lagging behind, suggesting that the long-anticipated altcoin season has yet to take off.
Observations by Moustache and data from Blockchaincenter.net suggest the possibility of significant changes in the altcoin market. The question remains as to how strong this growth will be and which altcoins will be able to take advantage of this opportunity.
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