The founders of Glassnode, the On-Chain Analysis Platform, said that two important catalysts should be realized to formally begin the Altcoin season. Jan Happy and Yann Alleman drew attention to these conditions in a sharing on the social media platform X.
When is the Altcoin bull?
Founders, Bitcoin $104,158.6He said that the start of the market dominance of the market was the first condition for the start of the Altcoin season. A decrease in Bitcoin’s share in the market may lead to an increase in interest in subcoins. Secondly, he stressed that Bitcoin’s price should be stable over $ 100,000. Staying at this level is considered a positive indicator for the general health of the market.
Bit As in the past, Bitcoin’s dominance role decreases in waves, and subcoins may come to the forefront. ” – Jan Happy and Yann Alleman
However, Happel and Alleman said Bitcoin’s recent price increase and market -dominated rise delayed the Altcoin season. Bitcoin is traded at $ 104.419 as soon as it is prepared, and this level is expected to remain constant in the short term.
Based on Bitcoin Fundamental Index, the founders predicted that BTC seems ready to reach $ 110,000, but would first face resistance around $ 106,000.
Altcoin bull is expected
Bitcoin’s market domination decreases and the price of the upper levels are stable, the Altcoin season may begin. In this process, investors should be careful and closely monitor market conditions.
Analysts continue to make more detailed analysis of Bitcoin’s current situation and future movements. Market dynamics and global economic factors may also be effective in the timing of the Altcoin season. Historical data tells us that the real rise will begin before the end of March. This means that weeks remain for the end of the nightmare that has been going on for years.
As a result, for the start of the Altcoin season, Bitcoin’s market dominance is reduced and its price remains over $ 100,000 is among the important criteria. Investors can closely shape their strategies by following these developments.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
