Arthur Hayes' Altcoin Season Formula: BTC, ETH and SOL Must Break These Resistances!
Crypto world veteran Arthur Hayes shared the levels that need to be overcome for the altcoin season.
Hayes said in a new article that Bitcoin and Ethereum are protected from declines in shitcoin markets thanks to strong demand from exchange-traded funds (ETFs) in the US.
Hayes stated that Bitcoin must exceed $70,000 and Ethereum must exceed $4,000 for the altcoin season to return. He also emphasized that Solana could exceed $250, but its impact on the market would not be as strong as Bitcoin and Ethereum.
Hayes suggested that a Bitcoin and Ethereum rally by the end of the year could pave the way for a new revival in the shitcoin market:
The altcoin season will only return after Bitcoin and Ether definitively exceed $70,000 and $4,000, respectively. Solana will also rise above $250, but the Solana pump’s overall wealth impact on the crypto market is not as strong as Bitcoin and Ether, given their relative market caps. The combination of a Bitcoin and Ether rally inspired by dollar liquidity towards the end of the year will provide a strong foundation for a sexy shitcoin party comeback.
Hayes recently wrote in another post that the US could start secretly printing dollars before the election, triggering an altcoin bull run.
