come back with me on this occasion I want to share blockchain media news about,Altseason, aka the massive rise in cryptocurrencies other than Bitcoin, could be arriving in the near future. This analyst explains the signs. Amidst the bearish trend rocking the crypto market in recent days, with crypto assets such as BNB experiencing huge pressure, a trader at What is Altseason? Altseason is short for “altcoin season“, a period of time in which cryptocurrencies other than Bitcoin, often referred to as “altcoins,” experience significant price increases. These altcoins can include various cryptocurrencies such as Ethereum, Ripple (XRP), Litecoin, and many others. Altseasons typically occur when crypto investors and traders begin to shift their attention from Bitcoin to altcoins, creating strong price spikes in the altcoin market. The underlying causes of an altseason can vary, but one of the main factors is the growing interest in altcoin projects that offer unique technology or features different from Bitcoin. Additionally, positive news about the development or adoption of certain crypto technologies can also trigger an altseason. During the altseason, some altcoins can experience huge price increases, often far exceeding Bitcoin's growth over the same period.
This is the sign In a recent tweet, trader “Mustache” stated that the altcoin is now poised for a significant bullish move as the basis of the altseason scenario. Mustache's belief is based on a rare pattern that may form on the monthly chart of the altcoin market. “The Golden Cross in the SMA20 monthly chart is about to occur. This has only happened twice before in the history of altcoins, in 2016 and 2020, marking the start of an Altcoin bull market.
Specifically, the analyst stated that a golden cross is close to occurring on the monthly chart for the 20-month Simple Moving Average (SMA20) of the altcoin. According to Mustache, this expected technical indicator has only happened twice before in altcoin history, and both times, it was a sign of the start of a major bull market
It is important to note that the golden cross is a technical indicator that occurs when a short-term moving average crosses above a long-term moving average. Traders often interpret it as a signal of a bullish trend.
Mustache's tweet includes a chart that identifies two golden crosses on the altcoin's SMA20 in 2016 and 2020, with bullish trends following both cycles. Additionally, the analyst noted that the comeback rally observed in the crypto market earlier this month may be “just a joke” compared to the days to come. It is important to note that Mustache is one of the many analysts who have predicted a bullish trend in altcoins aka altseason.
Similar views from van de Poppe
Renowned crypto analyst, Michaël van de Poppe, stated three weeks ago that the current prices of cryptocurrencies provide a favorable entry point for investment. He drew a straight line with the economic situation following the end of the 2018 bear market as the basis for his bullish view. Crypto analyst Michaël van de Poppe shares an optimistic view of Bitcoin's future, predicting a substantial surge in BTC and altcoins within the first year of the bull phase.
Van de Poppe's views come as chances of approval for BlackRock Inc.'s spot Bitcoin exchange-traded fund (ETF) increase
Van de Poppe asserted that BTC and altcoins have completed a year in a bear market and a year of accumulation phase, putting them in position for the anticipated bull cycle. “We have seen a bear market for a year. We have witnessed a year of accumulation. And now we are entering the first year of the bullish cycle," wrote Van de Poppe in a recent tweet, reported by the Benzinga page.
Today, Thursday (23/11/2023), the crypto market is starting to get excited again, after the announcement of the US$4 billion Binance case last Tuesday. After the market oscillated quite massively, now the prices of BTC and other altcoins appear to be turning green
BTC for example moved 3.67 percent in the last 24 hours, ETH (5 percent), BNB (3.96 percent), XRP (4 percent) and SOL (9 percent). Meme coins such as DOGE and SHIB are also not left behind, namely 3 percent and 2 percent respectively.
This is the reason why we should always read the news on our social media, because this can help us invest some of our assets in crypto, but we also need to read before starting to buy things we don't know about, because there are so many crypto coins and digital currencies, so we have to read a lot of news about crypto which is currently interesting and when it will crash, it's very important for us to know, and this is all I can share, hopefully it's useful and really happens, thank you, If you don't understand, you can read directly to my source, there is more information, greetings
Hopefully altseason coming soon. Thanks for sharing about this topic.
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