This article examines the predictions of three different cryptocurrency analysts regarding the future of altcoins. One analyst specifically discusses the target for ICP Coin, while the other two share their thoughts on the short and medium-term trajectories of altcoins in general.
ICP Coin Forecast
First, popular cryptocurrency analyst Crypto Tony shares a graph just minutes before the opening of the US market. He reveals his short-term target for ICP Coin, indicating that if the price surpasses $11.1, investors can expect further upward movement. Crypto Tony also marks $11.1 as his entry point. Currently, ICP Coin is around the $8.7 region, and US markets opened positively at the time of writing. However, Bitcoin (BTC) remains below $57,000.
Altcoins Forecast
Crypto analyst Mikybull describes the general state of altcoins as the calm before the storm. The accompanying graph focuses on the market value of altcoins, excluding BTC and ETH. The total value stands at $553 million, with a target of surpassing $700 billion by the year’s last quarter. Mikybull expects the total altcoin market value to grow to $1.65 trillion, indicating an average increase of 3 times for other cryptocurrencies. If this prediction is accurate, many positively diverging cryptocurrencies could see gains up to 10 times.
Historical Cycles Forecast
The final analyst, Yoddha, presents a projection based on historical cycles. According to him, the total market value of altcoins has already bottomed out and will return to the 2021 peak of $1.131 trillion by early 2025. “The next breakout for altcoins will be significant. Look at the formation of accumulation in this graph,” Yoddha states. If we are to witness the beginning of a bullish period, it likely won’t happen in September, as the BTC price continues to decline despite favorable inflation data and Japan’s easing on new rate hikes. Investors may be looking to catch the markets at their most desperate moments.
The analysts provide varied predictions that can offer investors different perspectives on the altcoin market. Regardless of short-term changes, it is important to consider long-term trends and historical cycles.
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