- Altcoins prepare to make a comeback following a massive shakeout.
- The market reset has set new expectations for altcoins.
- Will the altseason peak phase arrive this year?
The crypto community grows ever more eager every day, in hope of seeing crypto prices hit higher highs in the final months of the year as sentiments grow more bearish by the day. Amidst the gloom, a head macro analyst says that altcoins prepare to make a comeback following a massive shakeout and market reset. Will this prediction play out soon or will bearish expectations take over.
Altcoins Prepare to Make a Comeback
The crypto market has had an eventful month of October. What began as a positively bullish start for crypto prices, with Q3 and September closing in green, analysts expected green in a double-digit percentage for October. Instead, what the crypto market saw was a complete market shakeout and reset that sent many traders running towards the hills or switching back to safer assets like gold.
In detail, the crypto market experienced a $20 billion liquidation event caused by the price of BTC falling from $121,000 to $104,000 within an hour, taking altcoin prices down with it. Many say the trigger came in Trump’s continued tariff war with China, while others say this crash was an inevitable one. Either way, the crash wiped out all leverage and long trading positions, leading to some altcoin assets falling to zero.
The aftermath of the crash saw the prices of altcoins recover around 50% of their 70% – 90& fall in prices over the next few days. Now, with the market having experienced a massive shakeout and reset, analysts believed what would come next was perhaps one more new ATH for the price of BTC, followed by the long-awaited altseason that would kick off with the price of ETH surpassing the $5,000 ATH target.
Market Shakeout and Reset Brews Hope
Despite these high hopes, the price of ETH continues to barely cling on to the $4,000 price range, leaving analysts looking for any signs that suggests altseason is still in play. According to the analyst in the post above, that altseason peak price pump is still very much in play. According to this post, the crypto bull cycle is still in the ETH phase and will take another 8-10 weeks to hit a new ATH peak.
Meanwhile, Bitcoin Dominance is expected to fall steadily, finally clearing a path for altcoin prices to surge. The post also states that the FOMC meeting that will take place soon will likely act as a trigger to usher in altseason and send liquidity flooding into the altcoin market. Thus, new ATH targets seem to be on the horizon for the price of BTC, and especially for the price of ETH and altcoins.
