3 Experts Explained: Is Altcoin Season Approaching?

Crypto money market is currently going through a period of uncertainty. While the Bitcoin, the locomotive of the sector, is trading sideways in a narrow range, altcoin projects are experiencing mixed signals. This begs the question: Is there a rise trend for altcoins beneath the surface of the current consolidation phase?

Gareth Soloway announces Bitcoin and altcoin projects

Expert trader Gareth Soloway believes that Bitcoin's recent sideways move, hovering around $60,000, could be a sign of rise. Soloway says Bitcoin's actions will also have a close impact on altcoin. He views this pattern as consolidation, a period in which the price gathers strength before a potential upside breakout. Soloway describes $74,000 as a very important level. Bitcoin breaks through this resistance point, a significant rise could happen, potentially pushing its price towards the much-awaited $100,000 level next year.

Altcoin Buzz: There is optimism in the market

As the Bitcoin grapples with its next move, leading crypto analyst platform Altcoin Buzz has injected some optimism into the market. They predict that altcoins will hit a potential bottom this summer, followed by a rise towards the end of the year. This rise outlook is in line with historical patterns that altcoins tend to find support at the beginning of the summer.

Positive developments in the altcoin ecosystem further strengthen this prediction. For example, CET, a blockchain data infrastructure project, recently announced its integration with the Peaq blockchain. This collaboration aims to enhance real-world applications and facilitate the creation of innovative, event-driven programs.

Certain altcoin projects are already showing rise momentum. Akash Network, a cloud computing platform, saw a nearly 50% increase last week, driven by impressive quarterly revenue growth and user-friendly platforms for cloud providers. Similarly, TON coin, The Open Network's native cryptocurrency, is experiencing significant rise ahead of the expected token launch, with major exchanges offering upfront listing staking rewards.

Well-known cryptocurrency analyst Michaël van de Poppe made important assessments about the Bitcoin and the overall cryptocurrency market in his latest statement. According to Van de Poppe's analysis, although Bitcoin is trading in a narrow range, it has the potential to rise to the $70,000 to $72,000 level if it breaks through the $63,000 resistance. Van de Poppe argues that the dominance of Bitcoin has peaked at 57.50% and that altcoins may stand out more in the coming period. This suggests that investors' interest may shift to cryptocurrencies outside the Bitcoin.

Van de Poppe notes that the total market capitalization of altcoin is experiencing a normal correction in dollar terms, and the correction is deepening in Bitcoin pairs. This means that altcoins are losing more value compared to Bitcoin. The coming week is important for the entire crypto market. According to the analyst, important economic data from the United States are poised to influence the trajectory of the Bitcoin and, accordingly, the broader altcoin market. A positive economic outlook could provide the necessary headwind for the Bitcoin to break through its current resistance, potentially triggering a long-awaited altcoin rally.

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