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Ki Young Ju, founder of ryptoQuant, is one of the few most respected people in crypto, especially when it comes to on-chain. As a matter of fact, he is the founder and CEO of one of the largest on-chain analysis platforms. Although he said that he expected an increase in the markets in the medium and long term, he mentioned the prominence of short-term risks in his statements many times.
A few hours ago, he shared his views on the altcoin bull. He doesn't do this very often, and investors take notice of what he says. In his post, he mentioned the "1-Year Cumulative Buy/Sell Offer Volume Difference" metric, which measures the difference between buy and sell orders on an annual basis.
According to the founder of CryproQuant, whales have started to pay more attention to limit orders to prevent price slippage. Ki Young says that this points to a new era in which strong purchase walls are created.
Some altcoins such as Solana, Polygon (MATIC), Cardano, Cosmos (ATOM), PancakeSwap (CAKE), ALICE, Ampera (AMP), Ankr Protocol (ANKR) and Chilliz token (CHZ) attract attention at this point.
The opposite situation exists for XRP, Chainlink (LINK), BNB, COMP, BNT and AAVE. Compared to the altcoins above, demand seems much weaker here.
According to all this, time may be running out for altcoin bulls. This confirms the beginning of the strong upward trend predicted for the end of the year. However, at the time of writing, a significant portion of altcoins are largely moribund.
Has the Altcoin Bull Arrived?
Crypto analyst Jamie Coutts says we have reached the market bottom and the altcoin rally is about to begin, according to Top 200 Equal Weight Index data. This index compares the price performance of the 200 largest cryptocurrencies by market cap to Bitcoin (BTC). Jamie seems confident at this point and thinks the sales are coming to an end.
The third analyst, also known by the nickname Mags, is also popular and claimed that the accumulation phase of altcoins is currently continuing. According to him, this accumulation phase is about to end and a final retreat may be seen before the rise. Altcoins are expected to start rallying after accumulation periods over 500 days.
