If history repeats itself, the spring of altcoins is truly here!
The seasonal indicators for altcoins are quietly brewing the most impressive formation in the last three and a half years — the inverted head and shoulders, which is a precursor to a significant rise. Perhaps altcoins are about to welcome a wave of non-stop 'rising' festive season.
This altcoin market has long been holding back this big move.
It seems that this big move is about to be released, and a major rebound could arrive in the blink of an eye.
If this formation can truly materialize, the major rebound of altcoins is likely to be on its way.
Buying altcoins now is quite cost-effective, as many have dropped to less than one-tenth of their all-time high prices.
Looking at the altcoin index, there are already 37 types of altcoins listed. However, for an overall rebound in altcoins, at least 50 types need to rise.
This situation is quite similar to May 2020 when Bitcoin halved; that was a turning point that paved the way for the massive surge in 2021, and Bitcoin shot directly up to the 40,000 mark. Altcoins were a bit slower, but they eventually caught up to the rhythm.
Back then, from early 2021 to the end of March, the market cap of altcoins surged from $120 billion to $500 billion.
Now we are again in the time window after Bitcoin's halving, and altcoins haven't really gained momentum yet, especially since Bitcoin just reached the 69,000 high in July. But various signs indicate that they are likely to replicate the trend of 2021 this time.
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