- Reputed crypto analyst explains what’s wrong with this bull cycle.
- He explains why this altseason peak pump hasn’t happened yet.
- Despite the bearish reactions, the analyst still expects an altseason for the bull cycle.
As the price of the pioneer altcoin asset, Ethereum (ETH), reclaims the $4,000 price range, expectations for the price of ETH to hit new ATH prices and trigger the final altseason peak phase grow stronger. A reputed crypto analyst explains what’s wrong with this bull cycle and explores the reasons behind why altseason and its peak phase have not arrived yet. Can ETH set a new ATH price soon?
Reputed Crypto Analyst Explains What’s Wrong With This Bull Cycle
Over the last few hours, the pioneer altcoin asset, Ethereum (ETH), has reclaimed the $4,000 price range, igniting expectations for ETH price to surge and head towards its previous ATH targets in the $4,900 price range. This bull cycle’s altseason peak phase has not arrived yet, and analysts believe the price of ETH must surpass and hold beyond the $5,000 price range to trigger altseason.
But is this truly the time for the bull cycle’s altseason phase to arrive, or is this another fake out? Have all the factors that delayed altseason disappeared? Will ETH price pump and set a new ATH price soon, and finally trigger this bull cycle’s altseason peak phase? One analyst believes the time may finally be upon us and that the peak altseason phase will occur between the last two months of this year and possibly the start of the next year.
As we can see from the post above, this reputed crypto analyst goes on to break down what is wrong with this cycle. He starts off by mentioning how Bitcoin bottomed out in November 2022, and has only been up since then. Meanwhile, OTHERS vs BTC has been going only down all this time. This is why this cycle has been so bad for altcoins holders, but what exactly went wrong and when?
Altseason Still a Possibility
The analyst then dives deep into the market structure, starting with how in 2015-2017 and 2019-2021, OTHERS vs BTC and $BTC were rising in sync, but this time it’s truly different. In the early stages of the Bull Cycle, things looked very similar to the previous cycle. Take a look at two time periods: December 2018-August 2019 & November 2022-June 2023, BTC bottoms out first, as OTHERS vs BTC makes a lower low in 6 months while BTC rallies and switches the trend from bear to bull.
So, now we have this giant Divergence between the price of Bitcoin and OTHERS vs BTC. The analyst concludes that eventually this Divergence will play out just like the one in December 2018 – August 2019, but on a much bigger scale. Thus, he says that it will act as a multi-year uptrend for OTHERS vs BTC. So, he finishes by stating that SOL pumped because it had a very strong narrative, while the rest are just waiting for a Bitcoin Dominance meltdown and a steady OTHERS vs BTC uptrend.




