Rising Ethereum Prices Signal Imminent Altcoin Season, Analysts Predict

The post Rising Ethereum Prices Signal Imminent Altcoin Season, Analysts Predict appeared first on Coinpedia Fintech News

The cryptocurrency market is officially in a macro bull market that will last until mid-2025, based on historical performance after every Bitcoin (BTC) halving. The process upward will be gradual amid heightened crypto cash rotation. Furthermore, more investors, including institutional traders, are involved in the cryptocurrency market in this bull cycle compared to prior ones following more clear regulatory measures.

MikyBull Crypto on Altseason Timelines

After an impressive first quarter of the 2024 crypto rally, which saw the altcoin industry move from $750 billion to around $1.2 trillion, more investors have been aligning their portfolios for the next phase. Moreover, most of the altcoins have completed their respective market corrections and are ready for liftoff to retest the all-time high (ATH) led by Ethereum (ETH)

#Altcoins

ETH/BTC is following the Wyckoff re-accumulation schematics and it's about to continue its uptrend with confirmation of bullish divergence.#Altseason2024 maniac phase is about turn-on folks! pic.twitter.com/5hm8yD1ciB

— Mikybull Crypto (@MikybullCrypto) April 22, 2024

According to a popular crypto analyst MikyBull Crypto, the next altcoin season will begin as soon as the ETH/BTC rebounds from the multi-year low. The Ethereum price rebound against BTC is bolstered by the waning uptrend on Bitcoin dominance. Furthermore, the demand for altcoins has remained high amid the high anticipation of spot Ethereum ETFs in the United States. 

Notably, Hong Kong recently approved spot Bitcoin and Ethereum ETFs with trading expected to begin by the end of this month.

Top Altcoins to Watch Out For 

Although the meme coin industry – led by Dogecoin (DOGE) and Shiba Inu (SHIB) – remains the most profitable altcoins, new crypto narratives have emerged with higher profitability potential. Some of the crypto narratives to keep a close eye on include the respective tokens in the Decentralized Physical Infrastructure Network (DePIN) and real-world asset (RWA) tokenization.