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.
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.