Crypto analyst Ran Neuner said via the Crypto Banter channel that the altcoin season could start in a few weeks. Neuner, Bitcoin $63,953He stated that it had the best September performance in its history and achieved almost double-digit gains in the last month. He stated that this situation paved the way for Bitcoin to make a big rise in the last quarter of 2024.
Bitcoin’s Performance
Neuner emphasized that one of the main reasons why Bitcoin achieved better results than expected in September was the strong performance in the Chinese market. China’s major stock market is up nearly 20% in the past week. While China’s economy plays an important role in the cryptocurrency market, Hong Kong’s cryptocurrency-friendly steps and the Chinese government’s evaluation of Bitcoin ETFs and quantitative easing strategy could bring a large amount of cash inflow to the market.
Neuner stated that Bitcoin’s rise will also positively affect the altcoin market. Analyst XRP Coin aims for more, predicting that altcoins such as XRP, Solana, Near and Injective may show great activity this season. Pointing out that XRP broke the downward trend on long-term charts, Neuner said that if market conditions continue to improve, XRP may enter an upward trend.
Additionally, Neuner stated that Injective has been adopted more recently and suggested that INJ Coin could make a big leap in 2024. He added that projects such as Near, Arweave and COTI may also attract attention during the altcoin season.
Neuner emphasized his commitment to Solana and stated that Solana will play an important role in the future. He also stated that payments to victims after the collapse of FTX could provide additional liquidity to the market.
Future Prospects
Neuner argued that the last quarter of 2024 could be a period of great optimism for Bitcoin and a new record high could be imminent. Bitcoin’s strong performance could help the altcoin market recover in a similar manner.
Market participants think that if Bitcoin is supported steadily and global economic developments move in a positive direction, a general growth trend in the cryptocurrency market may continue.
As a result, Ran Neuner’s predictions indicate that Bitcoin and altcoins may show significant movements in the cryptocurrency market in the near future. Investors can benefit from these potential opportunities by closely monitoring market conditions.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
