😱😱😱Is history repeating itself? Top Analyst Claims There Are Signs of a Major Bull Run Soon in the #Altcoin Market
Every fall and rise triggers a storm of speculation in the crypto world. Recently, respected analyst Mikybull Crypto caused a stir by suggesting that the recent decline in the altcoin market could be a sign of an upcoming upswing.
Let's examine this information to reveal what may be developing in the crypto world.
Is the Altcoin Market Ready to Explode?
In a recent analysis conducted by MikybullCrypto, attention was turned to the Altcoin Market Value excluding Bitcoin and Ethereum. This measurement has attracted the attention of many due to its similarity to past trends in the 2021 altcoin season.
Mikybull Crypto's charts show a recurring pattern: the altcoin's market capitalization experiences a brief decline before rising. This pattern, reminiscent of past cycles, led to speculation among traders and investors.
Altcoin-Bitcoin Dominance
Going deeper, the analysis reveals an interesting relationship between the alt Decoin market capitalization and Bitcoin dominance. Bitcoin's dominance is expected to decrease as altcoins gain momentum. Altcoin dominance has increased to 11.75%, while Bitcoin remains at 55.65%, which indicates that a potential altcoin season is on the horizon.
This relationship reflects historical trends in which altcoin fluctuations have coincided with a decline in Bitcoin dominance.
Symptoms of Altcoin Fever
Another indicator of the upcoming altcoin season is the increase in trading volumes in various altcoins. The increased trading activity reflects the increased market participation and liquidity and sets the stage for increased price volatility and potential profit opportunities.
Do You See the Signals?
In the volatile world of cryptocurrency, significant price increases usually signal the beginning of an altcoin season. Altcoins like #Solana have recently made headlines by breaking through key resistance levels.
