#AltcoinStars #Crypto_Jobs๐ฏ #CryptoMarketMoves #AltcoinStars #BinanceSquareFamily
Introduction :
A famous crypto investor believes altcoins might be in a primary accumulation phase and points to a buy signal not seen in three years. Crypto investor Luke Martin explained to his 331,500 X followers on August 28 that altcoins are currently in a buying process
Exciting Announcements for the Altcoin Market :
Altcoin buy signal charts provide investors with an indicator of when the general altcoin market is at a buying level according to historical data. Martin mentioned that when Bitcoin was at this level in the summer of 2020, its price sextupled in the second half of the year.
โThe price rose vertically from 10,000 to 60,000 in the next 6 months.โ
Meanwhile, crypto investor Mags revealed that the altcoin market cap has formed a falling wedge pattern, which is a bullish continuation model. At the time of writing, the total altcoin market cap was $195.07 billion according to TradingView. MN Consultancy founder Michael van de Poppe emphasized in his August 25 X post that this is still 47% below its peaks. The altcoin market cap reached $446.85 billion in November 2021
Whatโs Happening on the Altcoin Front ?
Among the top 10 cryptocurrencies, Toncoin (TON) experienced the biggest drop in the past seven days, falling 15.31% to $5.57 after Telegram CEO Pavel Durov was arrested in France on August 24. Other altcoins have seen significant declines since March, coinciding with Bitcoinโs all-time high of $73,679.
Solanaโs price has dropped 29% from its March peak to $143.20, while XRP has fallen 19.7% from its year-to-date high to $0.57 in the same period. Overall, investor sentiment in the crypto market remains cautious, with the Crypto Fear & Greed Index showing a Fear score of 29. The indicator has dropped 10 points from 39 a week ago.
Meanwhile, Bitcoin dominance has decreased by 0.12% over the past seven days to 57.20%. However, crypto analyst and Into The Cryptoverse founder Benjamin Cowen believes this is not far from the peak he anticipated for Bitcoin dominance at 60%:
