The leading cryptocurrency Bitcoin (BTC) broke records under the influence of Donald Trump and rose above $109,000.
While BTC is making investors happy, the same is not true for altcoins. While the majority of altcoin investors are in loss, they are eagerly waiting for the altcoin rally to come.
However, a negative analysis for altcoins came from the analysis company Alphractal.
Accordingly, Alphractal analysts stated that the Altcoin Season Index experienced a sharp decline and said that this was a bear market signal for altcoins in the short term.
However, analysts stated that investors should not panic and that this decline in the index provided investors with a buying opportunity.
At this point, analysts referred to historical data and said that historically, declines and low values in this indicator provide an excellent buying opportunity to take positions in altcoins and benefit from possible future recoveries.
He stated that the interest in altcoins has increased recently and that this could be a sign that a bullish phase for altcoins is very close.
“Altcoin Season Index Drops Sharply: Bear Market Signal or Buying Opportunity?
The Altcoin Seasonal Index is falling rapidly, indicating a Bear Market for Altcoins in the short-term. This reflects Bitcoin’s dominance as the metric shows Altcoins losing momentum.
However, historically speaking, low values in this indicator have been an excellent opportunity to take a position in Altcoins and take advantage of possible future recoveries.
Another noteworthy point is the recent increase in public interest in Altcoins on Wikipedia, which suggests that more people are curious and researching the market. This could be a sign that the next phase of growth for Altcoins is on the horizon.
Be alert to opportunities!”
*This is not investment advice.
