Analyst Alert: Forecast Points to Winter Altseason
A prominent crypto analyst known as Altcoin Sherpa is closely monitoring the altcoin market for potential surges.
He predicts an approaching altseason in the coming months, highlighting December and January as historically strong periods for altcoins.
Altcoin Sherpa’s primary focus is Ethereum (ETH) versus Bitcoin (BTC). He anticipates that a 5% drop in the ETH/BTC value could signify the start of the altseason.
In Altcoin Sherpa’s words, “ETH is gearing up for an altcoin surge. Expect an explosive Q4 or early Q1, typically prime trading times. Keep an eye on the .055 BTC range, as Ethereum is poised to rebound strongly in the ETH/BTC pairing.”
The analyst emphasizes Bitcoin’s historical strength in December and January: “These months are favorable for crypto trading. BTC consistently performs well during this period, even in bear markets, and ETH typically outpaces it. This sets the stage for altseasons.”
Altcoin Sherpa closely watches the Bitcoin dominance (BTC.D) chart, which tracks BTC’s overall crypto market cap share. A declining BTC.D indicates that altcoins (in alt/BTC pairs) are outperforming.
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The altseason, according to the analyst, could last for several weeks. He expects Bitcoin’s price to be volatile during this period, with BTC either rising or gradually ascending. Altcoins tend to shine when Bitcoin takes a backseat.
Based on chart analysis, Altcoin Sherpa speculates that Bitcoin may rally above $29,000 this month, experience a mid-November retracement to the $25,000 range, soar to the $32,000 range in December, and revisit the $30,000 level.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
