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Altcoins Await a 16% Move for the Bull: Analyst Will Lose Hope if This Happens! - Coin Bulletin
It is predicted that the total altcoin market value needs to increase by 16% from its current level for the start of altcoin season in the cryptocurrency market.
Cryptocurrency investor Daan Crypto Trades shared on December 28th in an X post that the "euphoria" or "madness" phase would begin with TOTAL3 index surpassing $1.13 trillion, reaching an all-time high in 2021, and entering the price discovery phase.
Altcoin Market Value at Critical Level
According to TradingView data, the TOTAL3 index is currently at $962.78 billion and has increased by approximately **91.45% since the beginning of 2024.
However, Daan Crypto Trades mentioned that it could lose hope in the short term if the index falls below $800 billion.
Short-Term Strategies Affecting the Market
Some analysts believe that the increase in volatility in the crypto market is due to investors adopting shorter-term strategies compared to previous years.
Syncracy Capital co-founder Daniel Cheung expressed that 'Everyone has decided to become George Soros in this cycle and is timing their entries/exits by focusing on hourly charts,' stating that this situation has led to slower market recovery compared to previous cycles. Please provide the text to be translated Pseudonymous crypto investor Dyme stated that 'Altcoins currently offer a much more advantageous risk/reward profile compared to Bitcoin,' indicating that the period of accumulating Bitcoin has ended for 1.5 years.