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There’s No Altseason Without These 3 Key Indicators, Analyst Says
A recent statement made by Coin Bureau’s boss, Nic Proulx, suggests that the cryptocurrency market may not experience an altcoin season without three key indicators being met. In a tweet, Proulx emphasized that these conditions must be satisfied for an altcoin rally to occur.
Firstly, Bitcoin needs to break above its all-time high and maintain dominance without pulling liquidity from the market. This will allow investors to shift their focus to lower-cap speculative assets, sparking an altcoin rally. However, it is essential to note that this condition has not been met as Bitcoin has yet to breach its previous record.
Secondly, the US Federal Reserve must cease all Quantitative Tightening (QT) measures and confirm incoming rate cuts. This would allow for a rise in market liquidity, which is necessary for an altcoin season. It is crucial that these rate cuts are confirmed to instill confidence in investors.
Thirdly, Bitcoin dominance needs to fall significantly before the Federal Reserve confirms any rate cuts or ceases QT. This indicates a shift in investor sentiment away from the premier cryptocurrency and towards lower-cap assets.
According to Nic Proulx, if these conditions are not met, it is unlikely that an altcoin season will occur. This stance contradicts many other analysts who claim that an altcoin rally is imminent, regardless of Bitcoin’s price action.
It is essential for investors to be aware of these conditions before making any investment decisions.
Source: https://bitcoinist.com/no-altseason-without-these-3-indicators-analyst-say/
