The post Analyst Maps the Criteria to Start the Altseason; Here’s When it Could Begin! appeared first on Coinpedia Fintech News
After a brief rally in the past week, the crypto space appears to have slipped within a significant bearish range. Although the Bitcoin price is trying to make a comeback, it continues to remain under bearish pressure. Besides, the second largest crypto, Ethereum, displayed huge strength and is on it’s recovery path that may lead the prices to soar beyond the required levels. As the ETH price was not impacted due to the network outrage, the prices are expected to rise along with the other major altcoins very soon.
As the altcoins gain momentum, the possibility of an altseason may kick-in. However, a well-known analyst shares the time when the actual altseason may begin and believes that the time is not too far away.
Analyst, Mags lists out 3 stages of the beginning of an altseason. The first stage is divided into 3 parts, wherein the BTC price rises, dumps, and remains stable, while dominance continues to soar. Meanwhile, the altcoins maintain a steep drop and remain stable when BTC prices hover within consolidated regions. However, when the BTC price rises again, the dominance drops, raising the altcoin’s value at a greater pace.
In the next stage, the Bitcoin price and its dominance will drop while the altcoins maintain some stability. The analyst believes the crypto markets are in this stage, and the next phase may begin the altseason when BTC prices are stable, dominance drops, and altcoins begin to fly high. Considering past events and the prevailing market trends, the altseason is believed to be on the horizon.