Don’t Fear the Consolidation! Analysts Predict MASSIVE Altcoins Bull Run

The post Don’t Fear the Consolidation! Analysts Predict MASSIVE Altcoins Bull Run appeared first on Coinpedia Fintech News

Recent days have seen the cryptocurrency world locked in a constant struggle between buyers and sellers, leading to a phase of consolidation with no clear winner. This uncertainty surrounding Bitcoin (BTC) has prompted investors to take profits across the altcoin market in the short to mid-term.

Despite this flux, savvy traders are strategically accumulating specific crypto assets, anticipating significant rallies in the near future.

Key Catalysts on the Horizon

The crypto space finds support in fundamental factors like the fourth Bitcoin halving and recent approvals of spot BTC and Ethereum ETFs in major financial centers such as the United States and Hong Kong. These developments set the stage for increased institutional investment, bolstering liquidity within the industry.

Notably, Singapore’s leading bank, DBS, has revealed holdings of nearly $650 million worth of Ether, according to Nansen data, highlighting the growing acceptance of cryptocurrencies.

Waiting for Stability

While some altcoins, particularly in the meme coin realm, have witnessed remarkable gains, most others are still finding their footing after the bearish breakout earlier this year.

Renowned crypto analyst Michaël van de Poppe predicts that the total altcoin market cap will soon stabilize around $667 billion, indicating a potential turning point.

As stated, a period of boredom is taking place for the markets.

Expecting that the sideways consolidation continues for a little bit.

Further downwards pressure for the #Altcoins seem unlikely. pic.twitter.com/sDG9NIK5K7

— Michaël van de Poppe (@CryptoMichNL) May 30, 2024

Van de Poppe’s optimism is shared by another respected analyst, MikyBull Crypto, who draws parallels between the current altcoin market and the rally seen in 2016/2017.

#Altcoins

It might seem like it’s over to shake off weak hands before the monster rally sets in. pic.twitter.com/T78BWRiDPu

— Mikybull Crypto (@MikybullCrypto) May 30, 2024

According to this view, the ongoing correction is a final adjustment before an expected significant surge, suggesting a prevailing sentiment of impending bullish momentum in the altcoin realm.

Also Check Out : Vanguard Faces Criticism Over Refusal to List Spot Ethereum ETFs