Amid the crypto market downturn, Altcoin are predicted to bottom out this summer before a surge at the end of the year. Timing is everything, and now, Altcoin are poised for a major breakout. Analysts say that despite the recent downtrend, the rally has yet to begin.
Altcoin May Have Bottomed in June
According to Altcoin, historical chart patterns suggest that local prices for Altcoin may begin to bottom in June. This prediction is consistent with the insights of cryptocurrency analyst Rekt Capital, which emphasized in a recent article that Altcoin tend to bottom around early summer after specific market events. Despite the recent plunge in the Altcoin market value, market sentiment remains positive and the year-to-date gains are still impressive.
Bitcoin’s role in Altcoin market sentiment
Sentiment in the Altcoin market is closely tied to Bitcoin’s performance, and analysts believe that as Bitcoin price continues to show a consolidation phase post-halving, Altcoin may find their local bottom.
Positive development in the Altcoin ecosystem
Meanwhile, the Altcoin ecosystem is growing, which also contributes to the market's optimism. Blockchain data infrastructure CET announced the integration of Peaq blockchain, aiming to enhance real-world use cases and promote the development of event-driven applications. This integration is expected to provide developers with customizable real-time data streams, enabling the creation of innovative applications on the network.
Amid these developments, the Altcoin market is witnessing a notable surge in specific projects. Akash Network has surged nearly 50% in the past 7 days, driven by quarterly revenue growth and the launch of a user-friendly platform for cloud providers. Similarly, TON coin, the native cryptocurrency of the Open Network, has experienced a surge ahead of its expected token launch, supported by major exchanges offering pre- staking rewards.
In order to expand the sports fan token ecosystem, SBI Digital Asset Holdings, the cryptocurrency arm of Japanese conglomerate SBI Holdings, has partnered with sports blockchain provider Chiliz. The partnership aims to provide Japanese fans with fan tokens from popular football clubs and enhance their sports and entertainment experience through token-based rewards and activations.
Amid the sluggish cryptocurrency market, analyst Altcoin Buzz predicts that Altcoin will bottom out this summer before surging higher towards the end of the year. This bullish prediction comes amid notable movement in the Altcoin space, with two specific Altcoin experiencing surges.
According to Altcoin, historical chart patterns suggest that local prices for Altcoin may begin to bottom in June. This prediction is consistent with the insights of cryptocurrency analyst Rekt Capital, who highlighted in a recent article that Altcoin tend to bottom around early summer after specific market events. Despite the recent plunge in the Altcoin market value, market sentiment remains positive and the year-to-date gains are still impressive.
Sentiment in the Altcoin market is closely tied to Bitcoin’s performance, and analysts believe that as Bitcoin price continues to show a consolidation phase post-halving, Altcoin may be finding their local bottom.
Meanwhile, the Altcoin ecosystem is growing, which also contributes to the market's optimism. Blockchain data infrastructure CET announced the integration of Peaq blockchain, aiming to enhance real-world use cases and promote the development of event-driven applications. This integration is expected to provide developers with customizable real-time data streams, enabling the creation of innovative applications on the network.
Amid these developments, the Altcoin market is witnessing a notable surge in specific projects. Akash Network has surged nearly 50% in the past seven days, driven by quarterly revenue growth and the launch of a user-friendly platform for cloud providers. Similarly, TON Coin, the native cryptocurrency of the Open Network, has experienced a surge ahead of its expected token launch, supported by major exchanges offering pre-listing staking rewards.
Altcoin Market: Get Ready for a Potential Rally
The Altcoin market is incredibly capitalized, which is usually seen surging. After falling 17.55% last month, the Altcoin market cap (excluding the top ten) remains above $250 billion, a sign of strong support. The Crypto Fear and Greed Index fell 24 points, with a "greed" score of 56, indicating negative sentiment in the market. Despite the recent downturn in the market, investors also see an upward trend.
