Skip to content

Altseason incoming? Crypto expert explains the altcoin cycle

Altseason incoming? Crypto expert explains the altcoin cycle

Bitcoin (BTC) reached its all-time high of $69,000 to quickly retrace below $60,000 on the same day. Cryptocurrency traders eagerly expect an altseason to commence at any moment, boosting altcoins to previous highs. 

On that note, Credible Crypto posted on X explaining how the cryptocurrency market usually behaves during bull cycles. Previously, the trader shared a winning experience trading Dogecoin (DOGE), in which he made from $10,000 to $100,000 in 48 hours.

Interestingly, Credible Crypto sees two possible scenarios regarding the start of a massive altseason. Nevertheless, both outlooks suggest that this cycle’s altcoin market could start at any moment, and investors should prepare their positions.

It is worth noting that the two scenarios are based on historical patterns. Therefore, they are not guaranteed to mirror the past action.

Two scenarios that could ignite an altseason

First, Credible Crypto explains that Bitcoin could test the historical resistance and reject the breakout. In this case, the trader expects a massive correction, followed by a consolidation that could ignite an altseason.

“BTC tags prior ATH but rejects/consolidates at the highs for a few weeks before beginning to accelerate to the upside to then double in a matter of weeks. Alts begin rallying right after BTC tags prior ATH, while BTC consolidates.”

Credible Crypto

Second, Bitcoin could break the all-time high and move for huge gains in a few weeks. After this surge, the crypto expert forecasts a period of consolidation and the start of the altcoin cycle.

“BTC breaks its prior ATH with conviction and goes on to 2x in a matter of weeks—this is a mega breakout without much of a breather, and alts don’t get much love until BTC pauses after this breakout leg. Alts begin rallying en masse some weeks after BTC breaks prior ATH. In the latter- they start rallying almost immediately after BTC tags prior ATH.”

Credible Crypto

In summary, he only expects altcoins to shine when Bitcoin’s price action cools down in consolidation. This could happen either after a correction, failing to break the $69,000, or after a price discovery pump.

Notably, Bitcoin seems to follow the first scenario nearly two days after Credible Crypto’s post. BTC dropped to as low as $59,458 on March 5, after testing the all-time high, and now trades at $66,319. This zone could consolidate as a range between $64,000 and $68,000, igniting an altseason.

BTC/USD hourly price chart. Source: TradingView (Finbold)

In this context, Finbold has built a selection of altcoins that could multiply their capitalization by 10 during an altseason.

However, cryptocurrencies are volatile and unpredictable, and things can change at any time. Thus, investors must remain cautious and study altcoin projects while building investment positions.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

Best Crypto Exchange for Intermediate Traders and Investors

  • Invest in cryptocurrencies and 3,000+ other assets including stocks and precious metals.

  • 0% commission on stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.

  • Copy top-performing traders in real time, automatically.

  • eToro USA is registered with FINRA for securities trading.

30+ million Users
Securities trading offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Finbold.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD

Read Next:

Finance Digest

By subscribing you agree with Finbold T&C’s & Privacy Policy

Related posts

Sign Up

or

By submitting my information, I agree to the Privacy Policy and Terms of Service.

Already have an account? Sign In

Services

IMPORTANT NOTICE

Finbold is a news and information website. This Site may contain sponsored content, advertisements, and third-party materials, for which Finbold expressly disclaims any liability.

RISK WARNING: Cryptocurrencies are high-risk investments and you should not expect to be protected if something goes wrong. Don’t invest unless you’re prepared to lose all the money you invest. (Click here to learn more about cryptocurrency risks.)

By accessing this Site, you acknowledge that you understand these risks and that Finbold bears no responsibility for any losses, damages, or consequences resulting from your use of the Site or reliance on its content. Click here to learn more.