Is "Altcoin Season" Arriving in the Cryptocurrency Market? Warnings of Bitcoin's Volatility

As Bitcoin faces a sudden drop, the cryptocurrency market buzzes with predictions of an Altcoin Season.

Experts weigh in on the future of Bitcoin and altcoins, examining the market's volatility and potential investment opportunities. Stay informed about the latest shifts in cryptocurrency trends.

BTC Adjustments Signal the Start of "Altcoin Season"

On December 11, 2023, the price of Bitcoin (BTC) plummeted from around $44,000 to $40,000, causing a similar drop in the prices of other major cryptocurrencies.

However, many prominent cryptocurrency analysts are predicting the start of an "Altcoin Season."

What is "Altcoin Season"?

Altcoin Season refers to a period where the prices of many altcoins rise significantly.

This event is well-known in the cryptocurrency industry and occurs periodically. This price increase is believed to happen when profits gained from the rise in major currencies like Bitcoin flow into other cryptocurrencies.

Typically, Altcoin Season begins when Bitcoin's price rises to a certain level and then enters an adjustment phase.

Prominent cryptocurrency trader RamenPanda (@IamRamenPanda), who has over 55,000 followers on Twitter, is one of the individuals pointing to the arrival of Altcoin Season.

In a post on December 11, 2023, he commented, "We are now truly entering a genuine Altcoin Season."

He explained, "Bitcoin's dominance has peaked, so a long-term adjustment is necessary for BTC to resume its upward trend. Now is the time to take positions in altcoins."

Future "Price Turbulence" in Bitcoin?

In subsequent posts, RamenPanda mentioned, "There is a very high chance of price volatility in Bitcoin going forward," warning, "If you are leveraged in Bitcoin trading, you might lose everything in the next three months."

Rising Altcoin Prices: A Long-Standing Prediction

The prices of major altcoins have been rising since around October this year, and recently, many renowned cryptocurrency analysts have been predicting a substantial bullish market for altcoins.

Many of these predictions are based on reasons like "breaking out of a long-term downward trend" and "breaching major resistance lines." Recently, such indications have been noted in cryptocurrencies like "SHIB" and "DOGE."

Additionally, increased activity from cryptocurrency "whales" holding large amounts of digital currency is also seen as a "precursor to a price surge." Lately, movements by whales in "ADA" and "SHIB" have been garnering attention.

Moreover, renowned analyst Michaël van de Poppe, who had previously predicted the continued rise or adjustment of Bitcoin, stated in his post today, December 12, "The critical levels that Bitcoin needs to hold are between $36,500 and $38,000."

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