Altcoin Season? Not Anytime Soon
For some reason, many people believe that altcoins are about to start a new rally. But what are the reasons for this? Judging by these two graphs, BTC dominance could start skyrocketing after breaking key level and more and more money will flow from altcoins to BTC. Money is extremely expensive right now due to high interest rates, a recession may be around the corner and BTC could also retest 20K support. All of this combined is likely to cause most altcoins to drop by another 25-50%, if not more. If BTC dominance crosses 50% and consolidates higher, then there is a very high chance to see BTC DOM at 70% (most likely closer to halving or a little after it). At the same time, altcoin dominance will most likely decrease to the 3-4%.
Note
Wow, SEC just made a very serious move. Expect a further decline in altcoins (especially those that were listed). I also think that as soon as BTC falls below 25k, a sharp decline will begin which will lead to a drop in altcoins by 25-40%, which I spoke about earlier.Note
Altcoins are in free fall and this is just the beginning. Institutional investors are selling their assets while retail investors keep buying the dip (BNB, MATIC, ALGO, ATOM, DASH). We know what usually happens after that. If you still have any of these altcoins, then it's better to get rid of them as fast as possible
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