Beware Guys Altcoins may bottom in early summer before bull run —by Crypto Analysts
An altcoin bull run would first require Bitcoin to break out from its current range, according to famous research analyst
Bitcoin aside, the cryptocurrency market could find its local bottom in June, marking the start of the next altcoin bull cycle, according to market analysts
Despite the monthly slump, the altcoin market cap is still up over 24% year-to-date (YTD) and over 167% during the past year.
Altcoin sentiment is historically correlated with the Bitcoin
Altcoins could find their local bottom around June, as market sentiment and the Bitcoin price remain subdued by decreasing inflows from United States spot Bitcoin exchange-traded funds (ETFs),
Now
Even if altcoins find their local bottom around June, it does not necessarily mean that a bull run will start. For a significant turnaround, more fundamental changes are required, such as increased retail and institutional investment and favorable regulatory developments, given the scarcity of new liquidity and heavy reliance on institutional reinvestment into newer projects.”
On the monthly chart, 10 out of 12 moving averages (MA) are flashing a buy signal for the top altcoins, such as Ether tickers down
$2,918
which has struggled. Moving average indicators are commonly used in technical analysis to determine the average price of the underlying asset in relation to a set period
Altcoin prices could rise due to the M2 money supply, which turned positive year-over-year for the first time since November 2023, signaling that investors could soon start looking for hedges against inflation or alternative investments
Note:⬇⬇⬇
Guys be aware of market and choose right time for entry and exit
please Care of your assets not to decrease but increase
