The altcoin market, currently valued at $1.15 trillion excluding Bitcoin, is showing signs of a potential surge in the coming months. Here’s why the altcoin market is finally poised to break out from Bitcoin’s shadow once and for all. As a result, analysts have identified repeatable patterns that can indicate the beginning of big altseason rallies.
Captain Faibik, the great market analyst, recently uncovered a thrilling find. He pointed out the repetition of previous patterns on the weekly chart that predicted the start of a Big Altcoin Season. Captain Faibik too is sure that altcoins will pump up in Q3 this year. On top of that, he’s bullish on several other popular altcoins and forecasting some major returns overall. He drops a huge hint about an incoming altcoin market spike.
Consider this big news from Michael Van De Poppe, a widely followed crypto analyst. The altcoin market is sending signals of a big bullish break coming soon! The promise of this upward shift has created a lot of buzz among investors.
Historical Trends and Market Cycles
The just-completed 2020-2021 cycle is therefore an excellent touchstone for what’s possible. In that time, the altcoin market multiplied by over 75x. Most altcoins shot up by 300-500% from their bottoms. The last time the market went through a topping out phase. Then, it retraced, pumped once more and then had a major dump before the actual altcoin season started in earnest.
Notably, a double top-like move in altcoin market capitalization during that cycle tricked many retail buyers into purchasing the second high, highlighting the importance of understanding market patterns and potential pitfalls.
Current Market Signals and Potential Breakout
The altcoin market has experienced a phase of relative dormancy and subdued price action, but it is now flashing a bullish signal on the 1-day time frame chart, drawing closer to a key breakout from a broadening wedge pattern. All of this technical formation indicates that the market is getting ready to spring for a big move.
