Altcoin
When Altcoin Season? Top Analysts Weigh In
Crypto enthusiasts and investors are eager to know when altcoin season will kick off.
Top analysts offer varied perspectives on the timing and indicators that signal this shift.
Not an Altcoin Bull Market Yet
Crypto analyst Miles Deutscher recently shared insights, emphasizing that the market is far from an altcoin bull run. He explained that although Bitcoin has reached new all-time highs and meme coins are trending, altcoins have significantly underperformed.
“Most retail doesn’t hold large amounts of Bitcoin – they’re in altcoins. And altcoins have been significantly underperforming thus far this cycle,” he noted.
Deutscher highlighted several critical data points:
- The OTHERS/BTC ratio is lower than it was in October 2023, indicating altcoins’ weak performance.
- Only eight altcoins have broken their previous all-time highs against Bitcoin since the collapse of FTX.
- YouTube views for Bitcoin are disproportionately low compared to its price surge, suggesting retail disinterest.
- Altcoins are still 70% away from their previous all-time highs, while Bitcoin reached a new peak in March.
- Since Bitcoin’s price increase from $27,000 in October 2023, altcoins have not had a sustained rally yet.
Read more: Which Are the Best Altcoins To Invest in June 2024?
Deutscher attributed the market’s behavior to a Bitcoin-led cycle driven by the spot exchange-traded fund (ETF) narrative and strong inflows.
“This has been a Bitcoin-narrative led cycle… Specific narratives have significantly outperformed (with majors lagging). Memes, AI, and RWA have been the clear leaders so far this cycle,” he added.
Altcoin Season Is Coming Soon
Despite the current scenario, crypto investor Layah Heilpern pointed to several bullish factors for crypto, including Bitcoin and Ethereum ETF approvals and endorsements from high-profile figures. She argued that the market has shaken out weak hands and is poised for the next big move.
“Imagine not being bullish on crypto right now. The Winklevoss twins donated $2 million to Donald Trump. Bitcoin and Ethereum ETFs approved. Trump endorsed crypto. The halving is done. Ethereum is not a security,” Heilpern said.
Meanwhile, Ki Young Ju, CEO of CryptoQuant, and technical analyst Mister Crypto are seeing signs of an early altcoin season. Ju observed that Ethereum’s MVRV ratio is rising faster than Bitcoin’s, indicating that Ethereum is heating up relative to its on-chain fundamentals.
This could suggest an Ethereum-led altcoin season, especially given the current ETF situation.
“Given the current ETF situation, this might be an ETH-only season. Historically, when ETH surges, other alts tend to follow,” Ju wrote.
Read more: 11 Cryptos To Add To Your Portfolio Before Altcoin Season
Given the potential for an altcoins season, Michaël van de Poppe explained he is bullish on Chainlink (LINK), citing historical patterns and expecting a significant rally in the second half of the year. He noted that LINK has formed a solid weekly candle on its cycle low, similar to patterns seen in previous years that led to substantial gains.
“LINK makes a very decent weekly candle on the cycle low… A similar price pattern occurred in previous years, resulting in a 150% rally. I’m expecting the same,” van de Poppe said.
Meanwhile, Rekt Finance highlighted Polkadot’s entry into the AI race as a bullish indicator. With projects like OriginTrail and PhalaNetwork leveraging Polkadot’s technology for AI, Polkadot could become a central hub for AI projects, potentially boosting its value.
Read more: 10 Best Altcoin Exchanges In 2024
While analysts diverge on the exact timing, the consensus remains that altcoin season is on the horizon. Investors should stay informed and consider market trends and expert insights.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
With Ripple’s XRP lawsuit settlement finally in place, the crypto community is abuzz with anticipation over a possible XRP ETF launch. Despite the growing frenzy over XRP exchange-traded funds, the world’s largest asset management company, BlackRock, remains silent, sparking significant attention.
Detailing BlackRock’s vision and possible reasons behind its silence, expert All Things XRP shared a series of X posts. Let’s explore the expert’s threads, reading through the key points that shed light on BlackRock’s strategic approach to crypto investments.
Why Is BlackRock Silent on XRP ETF?
In a series of X posts, expert All Things XRP shed light on BlackRock’s strategic moves that steer them away from an XRP ETF. According to the expert, BlackRock’s hesitation to launch an XRP exchange-traded fund is driven by many factors regulatory concerns, market dynamics, and strategic considerations.
BlackRock Focuses on Bitcoin and Ethereum
Notably, the asset manager’s focus on Bitcoin and Ethereum ETFs is one of the main reasons to shy away from XRP. BlackRock is currently riding the wave of success with Bitcoin and Ethereum.
Reportedly, iShares Bitcoin Trust boasts over $30 billion in Assets Under Management (AUM). In addition, BlackRock’s ETH ETF has reached $1 billion in AUM in just two months. In light of this success, the platform is cautious about exploring other altcoins to mitigate potential risks.
Moreover, XRP may not meet BlackRock’s internal thresholds for demand, liquidity, and legal clarity. According to the company’s ETF executives, only Bitcoin and Ethereum currently meet these requirements.
Regulatory Concerns
As noted by the expert, regulatory concerns play a major role in BlackRock’s hesitation to back Ripple. Although both Ripple and the SEC dropped their appeals in the XRP lawsuit, the case is not officially over, with the label of “security” still lingering around. This uncertainty may deter the investment giant from applying for an XRP ETF.
Recently, All Things XRP shared insights on CEO Brad Garlinghouse’s crucial role in Ripple’s growth.
BlackRock’s Strategic Wait-and-See Approach
Interestingly, BlackRock is adopting a cautious approach, waiting for competitors like Grayscale and Franklin Templeton to launch their XRP ETFs. While these platforms will face the possible regulatory hurdles first, it will pave the way for BlackRock’s easy entry into the ETF space. This approach will also allow BlackRock to gauge institutional appetite for XRP products and assess the risk landscape.
Whoever takes the lead, an XRP ETF launch is poised for a significant price surge in the Ripple coin.
In addition, the asset manager’s fake XRP ETF filing in 2023 has further strengthened their cautious stance. Previously, the filing went viral and sparked ambiguity within the crypto market. The investment firm had to publicly deny involvement, potentially damaging their reputation. This incident might have made them cautious about pursuing an XRP ETF, at least for now, as they may want to avoid similar PR issues.
Will BlackRock Launch an XRP ETF?
Additional factors like lack of demand and XRP’s relatively small market share have also contributed to the asset manager’s decision. However, BlackRock is expected to push for an XRP ETF in the future after tackling all the possible hurdles.
BlackRock is known for launching products at the right moment, when the odds are in their favor. The strategic move is expected when XRP meets complete regulatory clarity and market stability. As per All Things XRP, BlackRock is envisioning dominating the market. The expert cited, “But if and when they do, it’ll be to dominate the space — not just participate.”
Nynu V Jamal
Nynu V Jamal is a passionate crypto journalist with three years of experience in blockchain, web3, and fintech spheres. She has established herself as a knowledgeable and engaging voice in the cryptocurrency and blockchain space. Her experience as an Assistant Professor in English Language and Literature has further added to her quest for crafting informative, well-researched, and accessible content.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
While investors are scanning the horizon for a short-term Solana (SOL) rally, cryptocurrency expert CryptoCurb is predicting an ultra-bullish price movement. CryptoCurb argues that a Solana price of $2,000 is “absolutely realistic” given the current fundamentals and on-chain indicators.
Solana Price To $2,000 Is A Realistic Projection
Pseudonymous cryptocurrency analyst CryptoCurb is predicting a massive growth spurt for Solana in the near future. In an X post, the expert says the Solana price can achieve a valuation of $2,000 given its impressive network metrics.
He hinges his projection on several factors, including Ethereum’s previous price performance. Ethereum price spiked to a $600 billion market capitalization during the last cycle with its steep fees and scalability issues.
A $2K SOL price will translate to a $1 trillion market capitalization that will see it flip Ethereum as the largest altcoin. CryptoCurb notes that if Ethereum can post impressive figures during the last cycle, Solana has the capabilities to be valued at $2,000.
“2K is absolutely realistic if Solana keeps its global adoption pace with minimal disruptions and continues to scale,” said CryptoCurb.
Rising network inflows are expected to send the Solana price on a short-term rally to $150 before a big push to $2K. Currently, the Solana price is pegged at $140 with a market capitalization of $72.6 billion, making CryptoCurb’s prediction an uphill climb.
A Wave Of Impressive Metrics Around SOL
While CryptoCurb did not disclose an exact timeline for his $2,000 prediction, he points to a short-term seismic price increase. The expert his backing his predictions with a swathe of network metrics pointing to fresh bullishness.
Solana has the highest number of active addresses over the last seven days at 28.4 million. The network led the pack for transactions at 369 million, trouncing Tron, BNB Chain, Base, and Bitcoin.
Solana is finding application in several Web 3 verticals given its speed, low cost, and scalability. In the last week, the Solana price has risen by nearly 7% while 24-hour trade volume has risen by 36%.
Last week, Canada launched the first SOL ETF with prices projected to surpass $250, reversing a forming death cross. Solana open interest crossed 5.5 billion, climbing by 10% amid rising whale activity in the ecosystem.
Rising bullish metrics for the network suggest that SOL will reach $200 before ETH reclaims $3,000.
Aliyu Pokima
Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Crypto expert PiMigrate recently predicted that the Pi Network price could reach a new all-time high (ATH) of $5. This comes amid recent whale movements, with these investors moving 41 million Pi Coins off exchanges.
Expert Predicts Pi Network To Reach $5
In an X post, PiMigrate stated that Pi Network’s journey to $5 has just begun. He remarked that the altcoin has very strong support at $0.6. As such, the expert believes that this $5 price target is a “very possible valuation.” PiMigrate added that good utilities will push the altcoin to this target.
Another expert, Moon Jeff, also predicted that the Pi Coin price can reach this $5 target. In an X post, the expert concluded that the altcoin can reach this price target following his analysis.
He alluded to his accompanying chart, which he described as being bullish, indicating that the Pi Network price can indeed reach this $5 target. The chart also showed that the altcoin has formed a strong support level at its current price.
Crypto analyst Xia also recently claimed that the Pi Coin’s momentum is building fast after it surged past the $0.63 mark with strong volume. She also noted that the RSI and MACD are turning bullish for the altcoin.
This bullish outlook for the Pi Coin comes amid recent huge whale accumulation. A Pi community page revealed that these investors moved a whopping 41 million coins (around $27 million) off exchanges in 48 hours. Specifically, these whales moved over 13 million Pi Coins from OKX to several wallets. This presents a bullish outlook for the coin since exchange supply is declining.
Pi Needs To Reclaim This Symmetrical Triangle
While analyzing the Pi Network’s price on the higher timeframe, analyst Alpha Crypto stated that the altcoin needs to reclaim its symmetrical triangle to resume its upward move.
The analyst remarked that once Pi reclaims this structure, market participants can look for a potential long setup. He added that on the flipside, if the price falls outside the triangle, it could open up a short opportunity. Alpha Crypto urged traders to wait for confirmation rather than rushing.
From a fundamentals perspective, top exchange listings could send the Pi Coin price higher. CoinGape recently reported that top exchange HTX had fueled listing speculations with a cryptic post on its X platform. Meanwhile, Pi community members remain hopeful that Binance will soon list the altcoin.
These community members will have their eyes on the Consensus 2025 conference, where Pi Network founder Nicolas Kokkalis will allegedly join an exclusive list of industry players to speak at the event.
Expert Dr. Altcoin described the event as a pivotal moment for Pi Network, as it will provide an opportunity for the Pi team to promote the network’s ecosystem.
At the time of writing, the Pi Coin price is trading at around $0.63, down almost 3% in the last 24 hours. Trading volume is also down over 36%, with $96.34 million traded during this period.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Dollar Dips While Bitcoin Hits New Heights
Ethereum Price Clings to Support—Upside Break Could Trigger Rally
Expert Reveals Why BlackRock Hasn’t Pushed for an XRP ETF
Will Bittensor Surpass Bitcoin as a Store of Value? Expert Predicts
Solana, Bitcoin in Texas, and Initia
XRP Bulls Defend $2.00—Is a Fresh Price Surge Loading?
2.52 Million Altcoins Are Ruining Crypto’s Future
Animoca Brands Valuation Tanks 75% In Two Years, Here’s Why
Crypto exchange BingX hacked for $43 million
Are The Big Players Losing Interest?
Hong Kong’s Securities Association Tips Authorities On Crypto Self-Regulation
Coinbase cbBTC Set to go Live on Solana
2.52 Million Altcoins Are Ruining Crypto’s Future
Animoca Brands Valuation Tanks 75% In Two Years, Here’s Why
Crypto exchange BingX hacked for $43 million
Are The Big Players Losing Interest?
Hong Kong’s Securities Association Tips Authorities On Crypto Self-Regulation
Coinbase cbBTC Set to go Live on Solana
-
Market18 hours ago1 Year After Bitcoin Halving: What’s Different This Time?
-
Market22 hours agoMELANIA Crashes to All-Time Low Amid Insiders Continued Sales
-
Market19 hours agoVOXEL Climbs 200% After Suspected Bitget Bot Glitch
-
Market23 hours agoCharles Schwab Plans Spot Crypto Trading Rollout in 2026
-
Market17 hours agoTokens Big Players Are Buying
-
Altcoin21 hours agoXRP Leads Crypto Shopping List For Latin America Ahead Of ETH, SOL—Report
-
Market20 hours agoHow Token Launch Frenzy Is Delaying 2025 Altcoin Season
-
Altcoin20 hours agoBinance Traders Go Big On Dogecoin—Majority Holding Long Positions
✓ Share: