Cryptocurrency Altcoin's Market Cap Indicates a Bullish Signal - Could the Upcoming Altcoin Bull Run Be On the Horizon?
That Bitcoin's On A Spree, Leaving Altcoins Behind, But There's A Storm Brewin'
The big Kahuna, Bitcoin, is ruling the crypto roost with a dominance that's hard to deny. But don't let that fool ya! Those altcoins are gearing up for a roaring comeback. After a quiet spell, they're showing signs of awakening as the broader alt market cap makes a crucial bullish cross. Yep, you heard it right, a long-awaited golden cross is on the horizon, and it's a clear sign of a potential upsurge.
Altcoins - Ready For a Wild Ride
It's been a while since altcoins have been rockin' and rollin'. But now, they're once again brimming with confidence. The general market cap of altcoins has made a key bullish cross, which hints at a much-needed resurgence.
Buckle Up! Bitcoin at $200k, Ethereum at $10k? Market Expert Sees Altcoin Season on the HorizonTed Pillows, a seasoned crypto investor and analyst, spotted this bullish cross after carefully examining the alt market cap on the daily time frame chart. This crossover isn't your average run-of-the-mill cross. No sir! This one's a golden cross, a signal that suggests an upsurge in upside momentum.
A golden cross is when a short-term moving average surpasses a long-term moving average. In simple terms, it's like a neon sign telling us that the market might be heading for a positive trend. With the golden cross making an appearance on the alt market cap, it's a sign that altcoins are building up for a wild ride.
You've Been Warned! Altcoins Consolidating Above EMAs, But the Calm is Short-LivedWhile the golden cross has made its entrance, Pillows points out that altcoins have been consolidating above the 50 and 200 EMAs since May. This might seem alarming, but it's often viewed as a sign of underlying strength that can lead to significant price hikes soon.
According to Pillows, altcoins will witness remarkable bullish movements once this consolidation phase kicks into high gear. In other words, the ongoing quiet period is just a prelude to a storm of enthusiasm.
Altcoin Season - It's Inevitable
As the golden cross materializes, the possibility of an impending altcoin season becomes more and more likely. On-chain expert Joao Wedson previously disclosed that we're entering a period where many altcoins are no longer following Bitcoin's path.
Altcoin Season? Crypto Analyst Says It's Here as Bitcoin Dominance Hits HTF ResistanceThis decoupling from Bitcoin's price trajectory seems to be increasing the likelihood of an altcoin season. According to Wedson, the ongoing decoupling suggests that altcoins could outperform Bitcoin, which is a telltale sign of an altcoin season.
Such a development typically means that capital is shifting from Bitcoin into altcoins—a trend that Wedson predicts will become more pronounced in the coming days. So, if you're holding onto your Bitcoin and stablecoins, Wedson warns that you may want to reconsider, as an altcoin season is inevitable this cycle.
In conclusion, while there are strong indicators pointing towards an imminent altcoin season—such as the golden cross and decoupling from Bitcoin—timing and triggers like Bitcoin's price dynamics remain crucial factors to keep an eye on. So, hang on tight, folks! It's gonna be a wild ride!
In the forecasted altcoin season, investors might consider diversifying their portfolios, as the general altcoin market cap is showing signs of a resurgence following a crucial bullish cross. This golden cross, a long-awaited signal of an upsurge, is a hint that altcoins, which have been consolidating above the 50 and 200 EMAs, are building up for a wild ride.
