Altcoin Season Predictions: 2017 Bull Run to Repeat?

Crypto experts are puzzled by the unusual delay in what is typically known as altcoin season. Usually, these periods of significant altcoin growth start a few months after Bitcoin’s halving. However, this time, the anticipated surge is taking longer to appear. Renowned crypto analyst Moustache notes that the current altcoin trends resemble those from 2016 and 2017.

The big question now is: Could we be on the brink of another explosive rally like we saw back then? Let’s find out.

Could History Be Repeating Itself?

Moustache’s latest analysis suggests that the current altcoin market could be setting up for a rally similar to the 2017 bull run. Back then, the altcoin market cap surged from about $240 million to nearly $85 billion.

Fast forward to today, the altcoin market cap sitting at approximately $827 billion, a similar rally could see it climb to between $1.8 trillion and $2.2 trillion. 

Moustache highlights the Relative Strength Index (RSI) on the 3-week chart as a key indicator. Right now, the RSI is in a downtrend. However, if it breaks out of this pattern, it could signal a major rally for altcoins. This shift could mean exciting times ahead for the altcoin market.

Time for Altcoins to Shine!

Renowned crypto analyst Michael van de Poppe has spotted a promising sign for altcoins. He observed a potential bullish divergence on the Others/BTC chart. This occurs when an asset’s price hits a new low, but the RSI does not, suggesting that selling pressure might be easing.

Van de Poppe believes this divergence indicates that the bottoming process for altcoins could be over. This suggests that after a period of decline, altcoins might be ready for a significant price increase.

Also Read: Bitcoin Spot ETFs Witnessed $1.2 B Massive Outflow! 

The wait is almost over. Are you ready for the altcoin boom?