‘Trap for investors’ ‘worst time for alts’: Here’s what experts are saying about the altcoin and crypto market crash
Recently, there has been a significant crash in the altcoin market, with some of the top altcoins experiencing drops of over 40% in the past two weeks. Various narratives are circulating about the possible reasons behind this crash. However, does this signify the end of the bull run? We have analyzed perspectives from experts, and some believe that altcoins will continue to face challenges.
Analyst Moustache pointed out that the 3W Gaussian Channel has changed from red to green for the first time since 2020, a shift that previously indicated an Altseason lasting several months. Miky Bull suggested that this crash is a deliberate setup to deceive investors into thinking the cycle is over, while it actually prepares for a final significant bull run.
Miky Bull stated, “This is exactly what is happening right now to trap you into believing that this cycle is done, whereas it’s in preparation for a final huge bull run.”
Educator and mathematician Crypto With Khan highlighted the concerning situation for altcoins, noting that Bitcoin hasn’t even reached $60K, yet altcoins are suffering as if it were at $42K. He emphasized the importance of internal catalysts, such as decentralized applications (dapps) that transition from Web2 to Web3 and sustainable games, rather than relying solely on celebrities, meme culture, or external factors that benefit only a few.
Crypto With Khan also mentioned that altcoins are currently at their lowest points in the last 2 to 3 years compared to ETH and BTC, only slightly above 2021 levels, marking it as the worst time for altcoins. Analyst Dami-Defi expressed optimism for the future of altcoins, stating that BTC dominance is unlikely to exceed 58-60%. Despite some lingering pain for altcoins, he advised patience and suggested that altseason will initiate relatively soon.
Andrew Kang observed that Bitcoin and altcoins have historically moved in parallel, but now they are starting to diverge, possibly leading them in opposite directions in the long run.
He commented, “For more than a decade, Bitcoin and altcoins have run along parallel tracks. We are at a point in time where those tracks start to split off. On a long time horizon, one can go one direction and the other the opposite.”
Overall, analysts have differing opinions on the future of altcoins after the recent market crash. While some believe that this is a setup for a significant bull run, others emphasize the challenges currently faced by altcoins. The divergence between Bitcoin and altcoins is also causing experts to consider different long-term outcomes.