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Altcoin Season May Be Delayed as Market Shifts Towards a Bitcoin-Focused Era
Despite the anticipation of an impending altcoin season, recent market developments suggest that the cryptocurrency space may be shifting towards a Bitcoin-focused era instead. According to data and insights from experts, the likelihood of further losses for altcoins increases as the tide appears to turn in favor of the leading digital asset.
In recent times, it has been observed that when the index rises, the trend usually reaches its peak within a few months, followed by a downturn. In this case, the market is expected to continue below 25 before reversing course. As a result, Captain Faibik advises buying dips rather than trying to pinpoint the exact bottom, as every bounce will be V-shaped and swift.
Moreover, it seems that the crypto analyst believes in accumulating altcoins over the next few weeks or months due to the steep discount on offer. This approach is rooted in his expectation of an impending strong upswing, which may mark the beginning of a final leg-up before market sentiment shifts towards bearish territory.
This assessment aligns with the findings of Mags, who highlights that whenever the index rises, it typically reaches its peak within a short period. The data also reveals that the index will continue to drop below 25 before reversing course and trending upward once more.
In addition, the notion that Captain Faibik sees an impending strong upswing is supported by his conviction in accumulating altcoins during this time frame, as he believes that these assets present a significant discount for investors.
Source: https://bitcoinist.com/altcoins-at-risk-of-more-losses/
