- Altcoin market cap repeats bullish historical patterns.
- These suggest massive price pumps soon for altcoins, especially.
- The bullish altseason peak is set to arrive in Q4.
As the crypto market continues to explore the possibilities following the brutal market reset caused by the $20 billion liquidation event, reputed crypto analysts look for concrete bullish signs that confirm a bullish altseason is still in play for Q4. One analyst highlights how the altcoin market cap repeats bullish historical patterns, suggesting massive price pumps soon, altseason on the horizon?
Altcoin Market Cap Repeats Bullish Historical Patterns
The last few days of the crypto market and asset prices have been quiet following the aftermath of the historic $20 billion liquidations. The crypto market set a record for the greatest single-day dip when the price of BTC fell from $121,000 to $104,000 within an hour, taking down Ethereum and altcoin prices down with it. So far, the market has recovered about halfway.
During the swift crash, the price of altcoins fell between 50% and 90% within the hour, taking some altcoins to zero and wiping out all leverage and long positions. Even short positions saw $3 billion liquidated. The massive crash event led to what analysts believe to be a reset scenario, creating a promising crypto market where being bullish is the only ideal option at the moment.
As we can see from the post above, this analyst goes on to explain that the massive altcoin price crash is simply a regular historical pattern playing out, a move that points to a promising altseason price pump in the coming days ahead. To start off, the analyst goes on to highlight the previous chart patterns by the altcoin market cap, excluding BTC and ETH, focusing on a pure altcoin cycle.
He begins by talking about a 60% correction in 2020 and how 2021 saw 36%, 57%, and 31% altcoin market corrections and drops mid-cycle and marks them as retests. This observation was followed up with the fact that each wipeout then saw what is described as the strongest rallies of the cycle. Thus, the analyst concludes that what is to come next is something similar, a promising altcoin price rally.
Massive Altseason Price Pump Ahead
As the post goes on to break down the observation, the analyst talks about what is playing out now, which is the aftermath of a $20 billion wipeout, $1 trillion erased, and 70% – 90% price drops across the altcoin asset board. He says this may look brutal, but upon zooming out, it is simply a repeating pattern that will lead to a faster recovery once liquidity resets. He concludes by stating violent purges are followed by silent accumulation, and then unstoppable rallies, suggesting traders should prepare for altseason.
