Altcoins
Q3 and Q4 poised for massive Altcoin rally suggest top crypto analysts
All cryptocurrency enthusiasts would agree: the market of 2024 has been a strong growth one. While Bitcoin and meme coins lead the pack, there are rumors of an epic comeback for altcoins. The total market capitalization of all cryptocurrencies currently stands at $2.28 trillion, with BTC holding a dominant position 55.36%.
Dive deeper to find out what analysts are predicting for the rest of the year and whether it’s time to adjust your crypto strategy.
Analyze the Altcoin market
Renowned cryptocurrency analyst Captain Faibik shared an optimistic outlook for the altcoin market, predicting a significant increase in the coming Q3 and Q4. According to a recent tweet by Captain Faibik, there is a silver lining for altcoin holders despite the recent market challenges.
He points out that many altcoins have faced a downturn 30-40% over the past three months, but view this correction as a necessary part of the market cycle.
The road to recovery: it’s time to return!
From October 2023 to March 2024, altcoins performed very well, delivering substantial returns to investors. Despite the recent correction, Faibik remains optimistic, suggesting that altcoins have completed the necessary correction and are almost ready to bounce back. Looking ahead, Faibik predicts that the third and fourth quarters of 2024 will be epic for altcoins.
He advises investors to capitalize on the current market decline, suggesting now is a great opportunity to buy and hold for the next 4-6 months. His predictions are in line with historical market patterns, where corrections are generally followed by substantial price increases.
It seems positive
Despite recent market fluctuations, cryptocurrency investor Layah Heilpern highlighted several positive factors for the cryptocurrency market, such as the approval of Bitcoin and Ethereum ETFs and support from influential figures. Heilpern believes the market has already weeded out weaker investors and is poised for significant growth.
The altcoin dominance graph shows a decrease of 2%, currently at 9.79%, with an altcoin market capitalization of $217.175 billion. This decline in altcoin market dominance presents a buying opportunity for investors, suggesting that an altcoin rally is on the horizon.
Overall, while the market has been through some turbulence, experts believe the stage is in place for a significant recovery in the altcoin sector, making now an opportune time for strategic investments.
Read also: Bitcoin Confirms ‘Summer Pause’: Price Approaches $60,000 Amid Historical Bearish Context
Are you thinking of purchasing the dip? Share your top altcoin picks for the next few quarters!