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June 16, 2024
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Famous Crypto Analyst Maps Out the Upcoming Altcoin Cycle; Here’s What to Expect

The post Famous Crypto Analyst Maps Out the Upcoming Altcoin Cycle; Here’s What to Expect appeared first on Coinpedia Fintech News

Esteemed cryptocurrency analyst Ivan on Tech has released his latest video analysis, delving into the prospects of the emergent altcoin cycle. With a keen eye on potential risks and gains, Ivan sheds light on the evolving landscape and offers valuable insights for investors.

Here are the highlights.

Is an Altcoin Party Awaiting?

While many investors remain inactive, Ivan highlights a discernible shift in the altcoin market. He emphasizes that even taking small positions can be significant, as dramatic pullbacks and substantial dumps are still likely to occur.

According to Ivan, a short-term bullish trend followed by a decline is a possibility, aligning with Chris Brunski’s prediction. Ivan suggests that a 20-40% decline in quality crypto assets could represent the final opportunity before the anticipated altcoin party commences between 2022 and 2025.

Read More: Analyst Predicts Altcoin Season in August – Here’s What Traders Can Expect

However, the expert cautions that the price from which the decline starts is an important consideration, whether it’s from current prices or a potential peak, or any other level.

Beware of Volatility!

Ivan predicts the market will continue to show high volatility, with the potential for substantial gains and losses. Ivan gives an example scenario in which Bitcoin breaks out from a current price of $30,494, pumps to around $44,000, and then drops back to retest.

This, he suggests, could qualify for the expected 25-30% fall, depending on where it halts. In this scenario, Bitcoin might be the first to move, followed by altcoins moving in larger waves.

The Federal Reserve’s Role: A Balancing Act

Addressing the elephant in the room, Ivan talks about the crucial role of the Federal Reserve, particularly concerning the US debt and its interest payments, which have nearly doubled in the past few years from 500 billion to 1 trillion per year. 

He asserts that the Fed will likely start printing money again to keep the government afloat. This move, while aimed at rescuing the economy, will also indirectly aid our market, according to Ivan.

While remaining broadly optimistic, Ivan also shared some concerns about Binance, including potential issues with Bitcoin Cash withdrawals. However, he also commended Binance for handling recent criticisms well and continuing to operate as usual.

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