Analyst Firm Alphractal Forecasts Altcoin Stabilization and Potential Bitcoin Outperformance

user avatar

by Giorgi Kostiuk

2 years ago

The company Alphractal analyzed current market trends, suggesting that altcoins might soon stabilize and outperform Bitcoin in the short term.

Current Market Trends

The analytics firm Alphractal noted that despite Bitcoin's sharp recovery over the past 24 hours—rising from $89,000 to $97,000—altcoins are currently in a phase of steeper declines. However, similar to previous cycles, altcoins begin to recover some time after Bitcoin's recovery.

Prospects for Altcoins

Data from the Altcoin Seasonality Index indicates that the cryptocurrency market has entered a phase where altcoins could begin to show growth. Alphractal emphasized that with the stabilization of altcoins, traders will be able to take advantage of the favorable conditions.

Limitations and Opportunities

Despite positive forecasts, Alphractal cautioned against premature expectations for a long-term increase. According to the company, the current situation resembles more of a short-term recovery, providing opportunities for scalping and swing trading.

Altcoins may soon stabilize and outperform Bitcoin, providing favorable conditions for traders.

Alphractal emphasizes the short-term potential of altcoins while advising caution and against drawing hasty conclusions about the start of a long-term growth phase.

Tier I

Sector: #18291

Sealed Cache Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, caches will be stored in your inventory and can be opened with Keys.

Other news

Bitcoin Futures Traders Abandon Crypto for Stablecoin Margin

chest

Bitcoin futures traders have largely abandoned using Bitcoin as collateral for their positions, opting for stablecoin-backed positions to avoid risks associated with price drops.

user avatarFilippo Romano

Gold Prices Surge to Three-Month High

chest

Gold prices surged to a three-month high, reaching $4,696.18 an ounce, driven by a weaker dollar and falling Treasury yields.

user avatarEmily Carter

BNB Smart Chain Set to Activate Pasteur Hard Fork

chest

BNB Smart Chain is set to activate its Pasteur hard fork on August 25, introducing significant network changes.

user avatarKaterina Papadopoulou

TAC Halts Block Production Due to Supply Exploit

chest

TAC, a Cosmos-based EVM sidechain connected to the TON ecosystem, has halted block production after a supply-related exploit.

user avatarTomas Novak

The Need for Reliable Data in Real Estate Tokenization

chest

The need for reliable pricing data in real estate tokenization is crucial due to the unique challenges it faces compared to liquid crypto assets.

user avatarMaya Lundqvist

TON Foundation to Permanently Shut Down Legacy Bridge on September 1

chest

The TON Foundation has confirmed the permanent shutdown of its legacy bridge on September 1, requiring users to transition their wrapped TON and related assets back to native forms.

user avatarLeo van der Veen

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.