The crypto space appears to be heating up, as the majority of assets have recently displayed extreme volatility. While the Bitcoin price remains sideways, the altcoins are gearing up, displaying significant bullish momentum. Although the whales and institutional investors have remained calm for a long time, retail traders’ interest has recently increased. Hence the negative & bearish sentiments for the popular altcoins have faded in recent times.
The above report also suggests that traders are expecting Bitcoin & popular altcoins to gear up in Q4 2022. Interestingly, sentiments toward Ethereum have become extremely bearish, possibly as a result of the Ethereum Merger event dragging the ETH price down rather than providing a significant push. However, with a sight recovery in the prices, the second largest crypto may regain its lost momentum to reach immediate resistance very soon.
Meanwhile, current market conditions point to a possible AltSeason that is rapidly approaching. However, the upcoming AltSeason is expected to be the best of all, as altcoins are expected to change many people’s lives.
According to a chart posted by a well-known analyst, the altcoin market cap is mirroring a previous event that resulted in a massive rise. The market cap, previously in 2017-18 sliced through the crucial resistance and underwent a notable correction before igniting a gigantic bull run to mark new highs around $876.26 billion.
As a result, according to the analyst, altcoins are currently on the verge of a massive explosion that could spark a monstrous rally displaying the largest AltSeason since 2017.
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