Cryptocurrency analyst il Capo answered the question of whether the altcoin season has begun in his statement. After Bitcoin surged more than 5% on the back of the Fed’s decision to cut interest rates by 50 basis points, il Capo, a prominent analyst in the cryptocurrency space, made some noteworthy comments.
He believes that more and more altcoins are breaking through lows and breaking downtrends, showing clear bullish signals. He predicted this situation before and now the market is playing out just as he expected.
Il Capo also pointed out that many altcoins, especially small-cap ones, are delivering impressive returns. However, he stressed that the real “altcoin season” has yet to officially begin.
He pointed out that the OTHERS index, which measures the value of the altcoin market, has shown its first bullish signal, a positive sign for the possibility of the market accelerating in the coming period.
If the index, currently at $205 billion, crosses the $265 billion threshold, he said, the “altcoin season” will officially begin.
Il Capo also admitted that he had been wrong about the previous price drop, but insisted that there would always be more opportunities ahead in the future.
