Altcoinseason starting?
After months of declines, there seems to be a glimmer of hope for altcoins. Since March 2024, the total market value of altcoins has plummeted from $1.27 trillion to just $898 billion, leading many to question the future of these digital assets.
However, recent developments suggest that a recovery might be on the horizon.
One of the key indicators is the recent break in the five-year upward trend of USDT.D, which measures Tether’s market dominance.
Analyst Moustache recently highlighted this shift, noting that a drop in USDT.D often coincides with a rise in other cryptocurrency prices. This could be a signal that the broader market is about to rally, giving altcoins the boost they need to overcome their recent sluggish performance.
Renowned crypto expert Michaël van de Poppe shares this optimism. He recommends using Dollar-Cost Averaging (DCA) with altcoins to prepare for the next market upswing.
Van de Poppe draws parallels to past bull runs in 2017 and 2021, where altcoins, after prolonged periods of stagnation, suddenly surged.
He believes that despite current challenges, altcoins are poised for a strong comeback, just as they have during previous bull markets.
The break in USDT dominance and the shifting position of Bitcoin in the market could be the first signs that the crypto market is gearing up for a new bull run.
For altcoin investors, this might be the perfect moment to get back in.
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