Soon - very very soon...
Watch out!👀
$BTC Dominance is about to repeat this historical pattern!
As $BTC Dominance will go lower in the coming months, #Altcoins will finally have an EPIC ALTSEASON!🔥
HOW TO PREPARE YOURSELF FOR ALTSEASON?
Study this in-depth post where I give you the ULTIMATE ALTCOIN SEASON GUIDE!👇
Let's dive into it!
Once $BTC Dominance starts trending lower is when #Altcoins pick up more & more bullish momentum!
#ALTCOINS WILL GAIN STRENGTH VERSUS $BTC IN 2024!
In the coming months the general Altcoin market will FINALLY have the perfect conditions to outperform $BTC!
There are many arguments why the Bitcoin Dominance chart is topping out right here, which is GREAT NEWS for altcoins!
It's important to understand the money flow in Crypto during each Crypto cycle!👇
➡️Bitcoin
➡️Large Caps
➡️Mid Caps
➡️Small Caps
This is how it has been every Bull Run and it will continue to be like this.
Remember though, this is a monthly chart.
A massive alt season doesn't just happen over night...
What's the best strategy for 2024?
If you haven't positioned yourself into altcoins already, do it NOW!
Time is running out.
Dips on Altcoins will be short-lived from now on and will be bought up extremely fast!
In the long term market cycle we are still at discounted levels for Altcoins.
There still is so much room to the upside!
I'm expecting a conservative target of around 35-40% for $BTC Dominance.
And I can definitely imagine a case where $BTC Dominance makes new lows!
Congrats if you have followed my accumulation strategies on altcoins that I've been posting here.
We've bought the exact bottom on several altcoins!
We've nailed the entries on $KAS, $TAO, $ZEPH, $RIO, $TRIAS...
The list goes on and on.
It's impressive how these particular #altcoins have shown incredible strength in the past months even though $BTC Dominance was trending up or going sideways.
Usually altcoins have a hard time gaining value vs $BTC in these conditions.
However these fundamentally strong altcoins have absolutely THRIVED in these conditions!
Imagine what they will do in a REAL altseason!
Altcoins that have already been showing strength in the past months under these hard conditions will be the BIGGEST gainers of the cycle.
Looking at the charts of several altcoins, it's evident that they are primed for massive upside in the next weeks!
Especially taking a look at smaller cap altcoins!
But back to $BTC dominance:
At the start of each bull run, it's typical that $BTC gains strength over altcoins.
Bitcoin & the $BTC dominance trend up & altcoins generally speaking lose value vs $BTC.
Why is this the case you might ask?
The bear market has left its mark on investors that lost money and therefore it's totally natural that the majority of investors still seek safety in $BTC.
This is exactly what happens each crypto cycle.
The real fun for altcoins will begin very soon!
If your altcoin hasn't pumped yet, you need to be patient.
Like I said, Altcoins are setting up for huge pumps over the next weeks and months.
Be patient!
Stay focussed, we are getting closer and closer to the best part of the cycle!
2024 will be our year!
Cheers!🥂
Leave a LIKE & FOLLOW @Bitcoin Gurukul if you have enjoyed this post.❤️

Bitcoin slipped 5% below $65,000 Thursday, with the U.S. dollar resurging amid the Swiss central bank's interest rate cut.

XRP, FIL and ICP defied the slump, while SOL and AVAX declined.

Bitcoin completed its correction by rebounding from $60,000 Wednesday and targeting "much higher levels" in the next phase of the uptrend, Swissblock analyst said.

Bitcoin {{BTC}} slid lower Thursday amid a stronger U.S. dollar, giving up some of the advances from Wednesday's spectacular bounce spurred by a dovish tone from the Federal Reserve.

BTC dropped some 5% to as low as $64,600 by late afternoon UTC hours from above $68,000 at the start of the day. The broad-market CoinDesk 20 Index (CD20) declined 3.5% from its daily high, as altcoins generally outperformed bitcoin during the day.

Payment network Ripple's native asset {{XRP}}, decentralized data storage platform Filecoin's crypto {{FIL}} and the Internet Computer's token {{ICP}} advanced 6%-7% over the past 24 hours.

Native tokens of layer 1 networks Solana {{SOL}}, Avalanche {{AVAX}} and Aptos {{APT}} lost 2%-3% during the same period.

Bitcoin's weak price action was perhaps due to the resurging U.S. dollar after the Swiss central bank, in a surprise move, cut interest rates by 25 basis points, erasing all of Wednesday's steep drop when Fed Chair Jerome Powell hit a dovish tone despite higher-than-expected inflation readings.

The U.S. dollar index (DXY), which measures the U.S. dollar's strength against other major currencies and a stronger dollar usually weighs on asset prices.

The move was perhaps due to market participants expecting that some other key central banks could start lowering interest rates before the Federal Reserve, macro analyst Michael Kao noted on a social media post.

Musings of the Day, 3/21/24:Despite JPOW’s Rhetorical Pivot, the data in coming weeks/months present a good likelihood that he punts again in June.Perhaps USD resurgence today following surprise SNB cut is a hint that RoW will still Out-Dove the Fed. pic.twitter.com/uREhsB2jhL

— Michael Kao (@UrbanKaoboy) March 21, 2024

Market analytics firm Swissblock said that bitcoin completed its pullback before Wednesday's bounce, reaching almost their target price of $58,000-$59,000 when they called for an imminent cool-off phase last week.

"Now much higher levels (are) coming," Swissblock analyst Henrik Zeberg said in a Thursday market update. He added that altcoins and bitcoin miners will perform "tremendously well" in the next phase of the uptrend.

Crypto trader Jelle noted that the bottom for the correction is in until BTC holds the $65,000 level. He added that it could consolidate for a while in the current price range and needs to break above the $69,000 price level – the market cycle peak in 2021 – to reignite its rally to higher prices.

Avalanche (AVAX), a decentralized open-source proof-of-stake blockchain token, has been making waves in the cryptocurrency market, with its price surging to new heights amidst growing demand for alternative coins.

TLDR

Avalanche (AVAX) price has surged recently, reaching a high of $57.40 on Tuesday, up from $8.64 in November last year.

The rally is attributed to the growing demand for cryptocurrencies and the Avalanche ecosystem, with the Total Value Locked (TVL) in the network’s ecosystem exceeding $1.9 billion.

The open interest in the Avalanche futures market has soared to over $450 million, the highest point on record, indicating a positive sentiment among investors.

Crypto analyst Rekt Capital predicts that AVAX will surpass its previous peak, with the next major resistance level between $65 and $70.

Changelly’s forecast suggests an 11.4% gain in AVAX value, reaching $54.63 by March 13, with a potential ROI of 104.1% by March 2024.

On Tuesday, AVAX reached a high of $57.40, marking a spectacular rally for a coin that was trading at just $8.64 in November last year.

The surge in Avalanche’s price can be attributed to the increasing demand for cryptocurrencies in general and the growth of the Avalanche ecosystem.

Avax Price at Coingecko

Data shows that the Total Value Locked (TVL) in the network’s ecosystem has exceeded $1.9 billion, with Benqi, AAVE, and Trader Joe being the dominant players in the decentralized finance (DeFi) space.

Avalanche is also gradually growing its role in the decentralized exchange (DEX) market, with platforms like Trader Joe, GMX, Curve, and Pangolin gaining market share.

The bullish sentiment surrounding Avalanche is further reinforced by the surge in open interest in the futures market, which has reached a record high of over $450 million.

This indicates a positive outlook among investors, as open interest is an important gauge of unfilled orders in an asset.

Renowned crypto analyst Rekt Capital has expressed optimism regarding AVAX’s price movement, predicting that the cryptocurrency will surpass its previous peak recorded in December 2023.

$AVAX

Avalanche has successfully retested the Bull Flag top as new support to fully confirm the breakout

Trend Continuation is now in progress

AVAX is soon going to eclipse its December 2023 highs

Next major resistance would be in the $65-$70 region#AVAX #Crypto #Avalanche https://t.co/v5zBKEEiUl pic.twitter.com/ZiWKdGYYez

— Rekt Capital (@rektcapital) March 11, 2024

The analyst points out that the next major resistance level for AVAX is between $65 and $70, suggesting that the current upward trend will persist.

Changelly’s recent forecast also paints a promising picture for Avalanche, with a predicted 11.4% gain in value, resulting in a price of $54.63 by March 13.

The forecast is backed by a strong market sentiment and a high Fear & Greed Index score, indicating investor confidence in the market.

Looking ahead, crypto experts predict that Avalanche could reach an average rate of $102.46 by March 2024, with a potential return on investment (ROI) of approximately 104.1%.

As the cryptocurrency market continues to evolve and grow, Avalanche appears well-positioned to capitalize on the increasing demand for alternative coins and the expanding DeFi ecosystem.

The post Avalanche (AVAX) Price Soars: How High Will it Go? appeared first on Blockonomi.