While Bitcoin is affected by the election atmosphere in the USA, what is expected in the altcoin market?
Bitcoin is trending downwards before the US presidential elections. Although the leading cryptocurrency approached its all-time high, it entered a downward trend as Donald Trump lost power. Altcoins that did not accompany the rise in Bitcoin were included in the said downward trend. The declines in altcoins pushed investors into despair.
Pointing out that historical cycles may repeat, analysts suggested that there may be more declines before a significant recovery in altcoins. According to analysts, the “grand finale” in altcoins will begin soon.
Expectations are rising for the altcoin bull
Benjamin Cowen, founder of ITC Crypto, touched upon altcoins in a post on X. “The grand finale of the altcoin showdown may have finally arrived,” said Cowen, adding that investors should be careful. Cowen stated that the process in question will end in December 2024 or in the second week of January 2025 at the latest. The famous name of the crypto industry commented, “It was a long journey and many investors gave up along the way, but it was inevitable that this process would happen.”
Cowen predicts that sharp price movements in altcoins may begin soon and bases his predictions on 2019. On the date in question, the altcoin market had experienced a major collapse. Altcoins, which gradually recovered in 2020, reached new peaks in 2021. Cowen thinks a similar scenario will happen in 2025.
Crypto analyst Ardizor suggested that the altcoin bull seen in 2017 and 2021 could repeat. The analyst emphasized that the altcoin bull cycle occurred three years apart and a new cycle could begin in 2024.
Another crypto analyst, Sensei, excited his 60 thousand followers. Sensei made the following sentences:
“The biggest altcoin season ever could begin in less than 10 days”
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