Popular crypto analyst Moustache, the altcoin market may soon experience significant volatility. His recent analysis suggests that altcoins could see an explosive move, deviating from the current sideways trend. Drawing comparisons to the bull runs of 2017 and 2021, Moustache suggests that a significant change in the market is approaching. What exactly could this mean for altcoin investors? Could we be on the verge of a bull run similar to past years?
In his latest tweet, Moustache expressed his belief that the altcoin market, represented by TOTAL2, is on the verge of massive volatility. TOTAL2 tracks the total market cap of all cryptocurrencies excluding Bitcoin, and any significant movement in this index could have far-reaching implications for altcoin prices.
According to Moustache, the market might not follow its usual sideways patterns and could instead experience a dramatic breakout, similar to what happened in the bull runs of 2017 and 2021.
This prediction, backed by fractal analysis, suggests that the altcoin market could be ready for an upward surge. The fractal pattern, which Moustache shared weeks ago, appears to be lining up perfectly for a significant move. In his opinion, this setup indicates that altcoins may soon take off in a massive upward direction, potentially surprising many investors.
According to Blockchaincenter.net’s Altcoin Season Index, the market is still tilted in favor of Bitcoin. The index, which tracks whether Bitcoin or altcoins are performing better, shows that if the index is below 25, Bitcoin is gaining more attention. On the other hand, an index above 75 signals stronger altcoin performance.
Currently, the index stands at 33, indicating that while altcoins have some room for growth, Bitcoin remains the preferred investment for many.
Recent data shows that a few altcoins, such as AAVE, SUI, and TRX, have seen gains of over 20% in the last 90 days. However, most top altcoins are lagging behind, suggesting that the long-anticipated altcoin season is yet to take off.
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