Many analysts think the crypto market is on the verge of an altcoin season.
Historical patterns suggest the altcoin market could be at a critical point.
The analyst projects the altcoin market cap to surpass $5 trillion in the upcoming rally.
Analysts believe the crypto market is gearing up for an altcoin season. One such analyst posted on X using the altcoin market cap data to reveal historical patterns, suggesting the market could be at a critical point.
#Altcoins season Incoming 
pic.twitter.com/mDdYS6Ccai
— Mags (@thescalpingpro) August 25, 2024
The shared info highlighted past altcoin market cap trends, breaking down price movements into segments, each representing a specific season within the market cycle. The analyst used a chart to illustrate that the altcoin market’s bull run happens in four seasons: Accumulation, First Leg Up, Chop, and Up Only.
Meanwhile, the Bitcoin halving event separates the cycle into two, with the Accumulation and First Leg Up occurring before Bitcoin halving, while the Chop and the Up Only follow afterward to complete the cycle. Shared data showed that the altcoin market cap is nearing the end of the Chop in the curre…
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