Altcoin Market Faces Grand Finale Decline, Potential Bottom by Early 2025
- Prominnt crypto nlyst Bnjmin Cown prdicts stp dclins in th altcoin mrkt bfor rcovry.
- Historicl pttrns suggest altcoins could grdully rcovr in 2025 ftr rching nw lows.
- Bitcoins mrkt dominnc rchs 60.5%, impcting ltcoins prformnc nd limiting potntil rllis
Th altcoin mrkt fcs chllnging phs, with prominnt crypto nlyst forsing grnd finl of stp dclins. This priod of substntil losss for ltrntiv cryptocurrncis my worsn bfor ny potntil rcovry mrgs, signling possibl turbulnc hd for invstors.
Bnjmin Cown, foundr of ITC Crypto, blivs this finl ct of th altcoin rckoning is upon us. In rcnt post, h sttd, It looks lik th grnd finl of th altcoin rckoning hs finlly rrivd. Cown xpcts this corrction to conclud by Dcmbr 2024 or ltst, th scond wk of Jnury 2025.
Altcoin Market Trends Resemble 2019
Cowns prdiction hings on historicl pttrns. H ss similrity btwn th currnt altcoin mrkt cpitliztion chrt nd th finl flush-out phs xprincd during th 2019 br mrkt. Following tht priod, ltcoins displyd grdul rcovry in 2020 bfor rching nw highs in 2021. Cown nticipts similr trjctory for altcoins in 2025.
Th sitution pprs vn blkr whn xmining ltcoin prformnc ginst Bitcoin (BTC). In sprt post, Cown pointd out tht altcoin/Bitcoin pirs hv bn on thr-yr losing strk. This ligns with historicl trnds, s th nlyst nots, with th lst two significnt ltssons occurring in post-hlving yrs 2017 nd 2021.
Mnwhil, nothr crypto trdr, rdizor, chos Cowns sntimnt, suggsting in Novmbr 4th post tht th ltsson pttrns obsrvd in 2017 nd 2021 r hppning gin ftr thr yrs. Howvr, countring this pssimistic outlook, crypto invstor Snsi xprssd mor optimistic viw, prdicting th biggst ltsson vr to bgin within th nxt tn dys.
Bitcoins Market Share Peaks at 60.5%
Bitcoin continus to xrt its dominnc ovr th cryptocurrncy mrkt. Its mrkt shr currntly sits t two-yr high of 60.5%, ccording to nlyst Cryptogrphic. This dominnc hs kpt Bitcoin prics rltivly stbl within th $68,000-$70,000 rng, whil many ltrntiv cryptocurrncis hv plummtd 20-40% from rcnt highs.
Historiclly, rising Bitcoin dominnc hs oftn coincidd with dclins in altcoin vlu. Howvr, potntil turning point my mrg if Bitcoin dominnc ncountrs rsistnc btwn 64% nd 65.81%. In this scnrio, Bitcoin could ithr rch nw highs or consolidt sidwys. Yt, xprts indict tht rsurgnc for ltrntiv cryptocurrncis is unlikly unlss Bitcoins mrkt shr flls blow 50%, suggsting tht significnt rllis my rquir dcrs in Bitcoins dominnc.
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Read more: https://www.tronweekly.com/altcoins-face-grand-finale-decline/
Text source: TronWeekly
