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2024 Altcoin Rally Predictions Started to Come: Famous Analysts Are Preparing for Bitcoin Super Bull Period.
As the crypto bull market eases in the middle of the second quarter of 2024, analysts are trying to combat FUD with super bullish altcoin predictions.
Popular crypto account Altcoin Daily published a long list of predictions earlier this week, predicting that #Bitcoin (BTC) would reach $120,000, #Ether (ETH) would reach $8,800, and #Solana (SOL) would reach $720.
According to these predictions, Bitcoin will increase by almost 100% to $ 60,600, while Ether and Solana will gain 200% and 400% respectively.
Another popular crypto analyst, Deezy.eth, shared his own predictions. He predicts Cardano (ADA) will rise 13.25x (1.225%) from current levels, rising from $0.445 to $5.90.
He predicts #XRP (XRP) to rise to $1.80 and #Dogecoin (DOGE) to rise to $0.50. This means an increase of 260% and 250% respectively.
These super bullish altcoin predictions come at a time when FUD (fear, uncertainty and doubt) is increasing in the crypto market. Many altcoins and meme coins rose between February and March as Bitcoin reached new record highs above $70,000.
However, sharp corrections were seen in the market due to the decline in interest in spot Bitcoin ETFs and the impact of macroeconomic headwinds.
While Bitcoin fell 17% from its March high of $74,000, many altcoins experienced steeper declines: Solana lost 30%, XRP lost 32%, Dogecoin lost 37%, and Cardano lost 45%.
Historically, it is known that post-halving BTC rallies usually begin within 4-6 months. It was expected that the halving in April would not immediately trigger an upward wave. The post-halving recession usually coincides with the summer season in the crypto market, along with the consolidation process.
Therefore, a sudden rally should not be expected, but there is no denying the fact that we are in the middle of a new bull market. However, 10x Research warned that unlocking tokens could hinder the altcoin rally if VCs (venture capital) back out.
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