When will the "altcoin season" come? These 10 catalyst events will determine it!
For altcoins to soar, they cannot do without the following 10 factors:
1) FTX's $16 billion compensation
FTX is distributing a total of $16 billion in funds, of which $12 billion is in cash. It is expected that many of those who received these funds will reinvest in the market, triggering a new round of buying.
2) Global Liquidity Index
The correlation between the cryptocurrency market and global liquidity is very obvious. Whenever this index reaches the current level, the market usually ushered in a strong rebound.
3) Ethereum ETF
Although the development of Ethereum ETFs is relatively slow at present, I firmly believe that they will catch up soon. It's just a matter of time.
4) BlackRock's BUILD Fund
In addition to ETFs, BlackRock, as the world's largest asset management company, is very optimistic about blockchain technology. The BUILD fund proves this again, and this is just the beginning.
5) Goldman Sachs embraces tokenization
Major institutions have already joined this industry.
6) US Election
Trump's presidency is a positive for cryptocurrencies, as his administration supports the industry. He is currently slightly ahead in the race, so it's worth watching.
7) Fed rate cuts
The market currently expects three rate cuts this year, with a 90% chance of a 25 basis point cut in September.
8) Google searches and app downloads remain low
Google searches for "cryptocurrency" and "bitcoin" remain at bear market levels. In addition, the Coinbase app is ranked only 416th.
9) US Dollar Index
DXY has continued to fall over the past few months and is currently at a key support level. If this support level is broken, it could have a very positive impact on cryptocurrencies.
10) Bearish factors are fading
The main reasons for the market sell-off, including the MtGox incident, the German sell-off of Bitcoin, Jump Trading, recession concerns, and war, seem to be gradually subsiding, and these factors are weakening.
Summary: September may be volatile, but the fourth quarter is generally bright, hold on to your chips!
