Altcoins Have Been Waiting For This For 4 Years, He Said: Famous Analyst Reveals His Bullish Plan!
Famous analyst TechDev stated that altcoins are preparing to leave Bitcoin (BTC) behind based on historical data and market indicators.
TechDev shared an analysis with its 493,800 followers on the social media platform X, presenting a chart showing that altcoin seasons start approximately 1,280 days after Bitcoin's cyclical peaks.
He stated that this cycle occurred in 2017 and 2021 when Bitcoin created a new six-month candle and surpassed its previous peak.
According to the analyst, there is a significant decline in the Bitcoin Dominance (BTC.D) index, which shows Bitcoin's market dominance during such periods. He emphasized that this decline in BTC.D means that Bitcoin's share in the total market value is decreasing and altcoins are on a rapid rise.
Technical Indicators Point to an Altcoin Rally
TechDev said that the altcoin season usually occurs when Bitcoin touches the upper limit on the Bollinger Bands.
He stated that Bollinger Bands are used to measure volatility in the price movements of assets, and that Bitcoin reaching these levels usually heralds a six-month period of intense growth for altcoins.
According to TechDev's analysis, the TOTAL2 index, which tracks the total market value of altcoins (excluding Bitcoin and stablecoins), is likely to show a major increase in the coming months.
He stated that this rise will proceed in parallel with the increasing demand for altcoins among investors.
TechDev said that their assessments indicate that a significant opportunity is imminent for altcoin investors. However, he emphasized that investors should act by paying attention to risk management, given the volatile nature of crypto markets
