The biggest Altcoin season in market history is brewing behind the scenes

Bitcoin entered the red zone, showing no signs of an upward recovery in the short term. Most of the top 10 coins are also trading in the red and discussions of an altcoin rally or season have diminished due to negative sentiment.

However, Crypto Crusader explained that the largest Altcoin season in cryptocurrencies the story is developing behind the scenes, despite very low retail sentiment. He compared the “dead cat bounces” of 2018 and 2022 and noted the current price action on the TOTAL3 index. In late November and early December, altcoins began to fluctuate before making a significant upward move. In 2020, altcoin sentiment was very poor, with many in the retail sector believing that the altseason was over.

He wrote: “We have been swinging longer, which awaits us with a much higher market valuation. The next move will take us above the previous all-time high altcoin market and Bitcoin will most likely surpass $100,000.”

This time the market has fluctuated longer due to a higher overall valuation. The next move is expected to surpass the previous all-time high for altcoins, with Bitcoin likely to reach above $100,000. For those feeling bearish, the analyst suggests zooming out to understand the current cyclical position, indicating that the exciting part is about to begin.

As for Bitcoin, the analyst offered a simple perspective. He believes that Bitcoin will maintain its uptrend, although it may fall to the $60,185 level. The main focus of the week is the weekly close of the candle, which he is monitoring closely. According to him, Bitcoin is close to the bottom or has already reached it.

Credible cryptocurrency he also talked about the sentiment around meme coins and said, “I think some meme majors will recover and continue to make new all-time highs once this broader correction is complete and after BTC tops out. Not all memes will they will, but that’s obvious. The problem is that most of these memes have no basis behind them, their success depends solely on attracting new money and attention. If they don’t, they’re dead in the water.”

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