Altcoins

Bitcoin Dumping Hard, Alt-Season May Be Delayed To Q2/Q3 2022

Written by: Sahana Vibhute

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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Dec 10, 2021

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Highlights

    Bitcoin price is again dumping hard as the weekend approaches and hence the bearish trend is anticipated to continue further

    The Altseason is also expected to differ to a large extent as Ethereum is suspected to follow the most dominant crypto

The crypto market has yet again turned pretty much bearish currently, as the most dominant crypto has dipped profusely. For the past couple of weekends, the Bitcoin price is showcasing a bearish divergence and hence the bear market is expected to end the yearly trade. Honestly, the BTC price is expected to end the yearly trade on a bearish note and hover below $45K in the worst-case scenario. 

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Therefore, the altcoins which were gaining a little strength due to the sideway trend of BTC have also fallen into the same bearish well as Bitcoin. Woefully, the much-awaited Altseason may not resume anytime in 2021 as the dominant crypto may continue to trend downwards. One of the popular analysts, Micheal de van Poppe, predicts the Altseason to peak somewhere in Q2/Q3 of 2022. 

The analyst says that the market is bottoming very hard nowadays as many people tend to believe that the BTC price may not go parabolic now. In short many believe the bear market has begun and hence they may play safe that would restrict the BTC price rally below $50K. And hence in such a case, the altcoins may also follow a narrow trend. 

However, the analyst believes the Altseason may be deferred but not canceled as the altcoins are expected to gear up in Q1 2022. Further, the ETH pairs may focus on uplifting Ethereum prices and eventually attempt to outperform ETH in the upcoming bull cycle. And hence the peak of the Altseason maybe somewhere in Q2 or Q3 2022. 

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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