Altcoins
Crypto Expert Says “Get Ready” for a Massive Altcoin Run, Here’s Why
Cryptocurrency analyst, Michael van de Poppe alerted the broader cryptocurrency community of an upcoming altcoin rally. The analyst cited the recent upward trend experienced by Bitcoin as a positive signal for this prediction.
Prepare for a major run in Altcoin
In a recent post on X (formerly Twitter), Poppe suggested that altcoins are poised to become next in line for the Bullish momentum for 2024. Citing the recent rise in Bitcoin at more than $60,000the crypto analyst has disclosed that this substantial price increase is a clear signal of a potential altcoin rally in the market.
He predicts that during this period potential altcoin run, major cryptocurrencies could see substantial surges that could potentially push their prices well above their previous all-time highs. In light of this, the crypto analyst advised the broader cryptocurrency community to remain vigilant and make necessary preparations for this expected bullish event.
Lately, market sentiment has indicated a change Bitcoin investments at coins and other major altcoins. Last week, a memecoin based on Solana, Dog Hat (WIF) saw a sharp rise, propelling its price to $1 and posting a year-over-year gain of over 90%.
Additionally, popular altcoins like Solana and Cardano have seen significant price increases and growth in their respective markets. On March 1st, Solana price jumped to two-year highs, climbing above $136. Conversely, Cardano recorded an increase in its adoption ratewith the total number of Cardano wallets in the ecosystem approaching 4.6 million.
These subtle developments indicate a potential change in the altcoin market dynamicsas a growing number of cryptocurrencies begin to mirror Bitcoin’s bullish momentum.
Altcoins prepare to pump
A crypto analyst, identified as “Dami Defi” on disclosed that recent market trends signal that “altcoins are getting ready to pump.”
Dami Defi’s predictions are anchored in the decreasing dominance of Bitcoin in the cryptocurrency market. He explained that when the market capitalization of the entire crypto market increases and simultaneously, The dominance of Bitcoin declines, this often signals a healthy and widespread bull market in the crypto space.
According to the analyst, this scenario implies that market growth is not only focused on Bitcoin but would also potentially be spread across various altcoins. He revealed that despite the recent rise in Bitcoin prices, the cryptocurrency has experienced notable releaseswith a substantial portion of these funds being transferred to altcoins.
“If we continue to see BTC dominance decline and full resistance at 3 is broken, all hell is going to break loose and altcoins are going to go crazy,” said Dami Defi.
Altcoins market cap at $1.08 trillion | Source: Crypto Total Marekt Cap Exclusing BTC
Featured image from Coinpedia, chart from Tradingview.com