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Title: 6-Month Altcoin Bull Market Correction Phase Nears End, Altcoin Awaken for Bullish Altseason Peak Rally
A 6-month altcoin bull market correction phase appears to be nearing its end, and the altcoin market is awakening in anticipation of a bullish altseason peak rally. This development has significant implications for the cryptocurrency market as it may signal the start of an explosive growth period.
As we enter the last week of February, all eyes are on ETH, which is expected to lead the altseason peak. The last six months have seen nothing but a bull market correction. The recent bullish cross in the Total Market Cap last occurred in 2020. It’s interesting to note that this pattern has played out before, leading to a massive pump.
ETH has yet to set a new ATH (All-Time High) this bull cycle, and if it does so, it may spark a chain reaction of other altcoins setting new highs, much like BTC did in November. This prediction is based on historical patterns, which have shown that when the market corrects 6 months after a major price surge, we see an explosive growth phase.
It’s also important to note that a bearish wedge is forming on Bitcoin Dominance, indicating the end of the bleeding for many altcoins and potentially paving the way for the start of the peak altseason. This development has significant implications for investors who have been waiting patiently for the right moment to enter the market.
For those unfamiliar with the concept of Bitcoin Dominance, it serves as an indicator of a bull run or bearish trend in the crypto market. A bearish wedge forming on this metric would suggest that the dominance of Bitcoin over other cryptocurrencies has reached its limit and the altcoin market is likely to benefit from this shift.
In conclusion, investors should be prepared for a potentially explosive growth period in the altcoin space as we enter the latter half of February and beyond.
Source: cryptonewsland.com
