The cryptocurrency market has been in a bear market for most of 2022, with Bitcoin (BTC) and other major coins losing significant value. However, there is still some hope for a resurgence in the form of an altseason, a period when altcoins (alternative cryptocurrencies) outperform Bitcoin.
So, when will altseason start?
Experts are divided on the question of when altseason will start. Some believe that it could happen as early as the next few months, while others believe that it could be a year or more away.
Here is a roundup of what some experts are saying:
- Michael Van de Poppe, a popular crypto analyst, believes that altseason could start in late 2024 or early 2025. He cites several factors that could contribute to this, including the Federal Reserve ending its rate hike cycle and the release of Ethereum’s Shanghai hard fork, which will make it easier to withdraw staked ETH. Michael Van de Poppe
- Trader and analyst Pentoshi believes that altseason could start sooner, possibly in the next few months. He points to the fact that many altcoins are already oversold and that there is a lot of “pent-up demand” for altcoins. Pentoshi crypto analyst
- On the other hand, some experts believe that altseason is not likely to start anytime soon. These experts argue that the bear market is still in its early stages and that Bitcoin will need to make a significant recovery before altcoins can start to outperform it.
It is important to note that these are just the opinions of experts, and there is no way to know for sure when altseason will start. However, the fact that there is so much speculation about altseason suggests that many investors believe that it is a real possibility.
Here are some factors to watch that could signal the start of altseason:
- An increase in altcoin trading volume: If investors start to buy more altcoins, this will drive up trading volume and could signal the start of altseason.
- A rise in altcoin prices: If altcoin prices start to rise relative to Bitcoin, this could also be a sign that altseason is underway.
- Positive news for altcoins: If there is positive news for altcoins, such as the release of a new product or service, this could also boost investor sentiment and lead to a rally in altcoin prices.
Of course, there is no guarantee that altseason will happen at all. The cryptocurrency market is notoriously volatile and there are many factors that could derail a potential altseason rally. However, for investors who are bullish on altcoins, it is worth paying attention to the factors listed above.
Only time will tell whether or not altseason will start in 2024. However, the anticipation is already building, and it will be interesting to see what happens in the coming months.
It is important to do your own research before investing in any cryptocurrency. Altcoins are especially risky investments, and there is a high chance of losing money. Only invest money that you can afford to lose.
