Crypto analysts are predicting a potential surge in altcoin prices despite recent market volatility. Several key events, including Trump’s appearance at the Bitcoin Conference and the Ethereum ETF launch, are fueling optimism.
Additionally, experts point to a 525-day accumulation period that preceded the current market movement. These factors, combined with an upcoming FOMC meeting, have led analysts to believe altcoins may be poised for gains.
Bullish Sentiment Amidst Market Shakeout
Crypto analyst 𝕄𝕠𝕦𝕤𝕥𝕒𝕔ⓗ𝕖 remains optimistic about the altcoin market.
In a tweet, he characterized the current market conditions as “just another shakeout before the inevitable pump happens.” The analyst highlighted several key factors supporting his bullish outlook.
#Altcoins Just another shakeout before the inevitable pump happens imo.Don't forget:-Trump will speak at the $BTC Conference in Nashville-ETH ETF is liveAND: FOMC meeting in a few days (that's what I'm most excited about)Significantly more bullish than bearish.
— 𝕄𝕠𝕦𝕤𝕥𝕒𝕔ⓗ𝕖 (@el_crypto_prof) July 25, 2024
𝕄𝕠𝕦𝕤𝕥𝕒𝕔ⓗ𝕖 pointed to three events that could potentially drive the market. First, former U.S. President Donald Trump is scheduled to speak at the Bitcoin Conference in Nashville. Second, the Ethereum ETF has gone live. Lastly, the upcoming FOMC meeting has sparked excitement among investors.
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Show more +Show less – Long-Term Accumulation Phase
Another crypto expert, Mags, offered a compelling perspective on the altcoin market’s trajectory. Mags argued that the current pullback is likely a re-accumulation phase before another upward move.
He noted that altcoins have only risen 58% since breaking out of a 525-day accumulation period.
Mags challenged the notion that altcoins are in a distribution phase. He questioned whether a breakout after such an extended consolidation period would end with just a 58% move. This historical context suggests potential for further growth in the altcoin market.
Read also: Top Analyst Predicts Bitcoin’s (BTC) Path, Calls Cardano’s (ADA) Price Chart ‘Frustrating’
Expert Consensus Building
As previously reported by Captain Altcoin, a growing consensus among crypto analysts points to a possible surge in altcoin prices. Three top analysts – Jelle, Moustache, and Captain Faibik – shared insights highlighting bullish indicators for the altcoin market. Their predictions suggested that investors could see gains in the coming months, particularly in August and September.
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