SELL-IN-MAY ends with Spot Ethereum ETF approved! Starting altcoin season from today?
60% is the average decrease of many mid-cap Altcoins in the correction lasting from March until now! Although many people are still waiting for Bitcoin to reach 50K - 40K, in my opinion, this is unlikely because:
- Bitcoin's deep declines were all absorbed by very strong buying pressure
- Retail holds many altcoins, selling altcoins is enough.
The -60% adjustment is a very large number, but it is not a coincidence that the chart of altcoins created a Support Zone when falling to this area, especially the chart of altcoins just listed in 2023-2024. It not only makes investors sell tokens in panic, but also makes them not dare to buy.
In my personal opinion, Sell-in-may is over! Each altcoin will have its price pushed up, but not all altcoins can increase at the same time. Retail investors will feel FOMO and continuously trade between altcoins to optimize the Bull Market.
This is not recommended because once the altcoin price is pushed up, it will increase very quickly. For example with $EDU, the chart created a Support zone at -62% from the peak, a 62 day correction before the 2X PUMP in just 3 days!
If you have caught a good altcoin at a good price recently, hold on tight. Even now, many altcoins have only just broken out of the sideway zone, so the price increase potential is still very strong.
Spot Ether ETF is just the beginning of the altcoin wave!
