3 Bullish Signs Pointing to an Altcoin Price Surge: Renowned Analyst Reports Market Bottom

The crypto world is abuzz with talk of an impending "altseason," where altcoins are expected to outperform Bitcoin.

Analysts like Michaël van de Poppe and Moustache are fueling these hopes, sharing bullish forecasts backed by strong technical indicators.

From the formation of an inverted head and shoulders pattern to breaking a prolonged downtrend, altcoins are showing signs of a market bottom.

Could we see a market cap of $1.8 trillion by Q1 2025? Let's dive into the three major signs that could make this a reality.

Altcoin Market Cap Expected to Reach $1.8 Trillion by Q1 2025

As anticipation builds in the crypto community for the arrival of "altseason" — a period when altcoins outperform Bitcoin — prominent analysts are increasingly offering encouraging forecasts.

Among these voices is Michaël van de Poppe, a renowned analyst with over 720,000 followers on X (formerly Twitter), who recently announced that altcoins have hit their bottom.

On September 15, 2024, van de Poppe shared his analysis, predicting an imminent recovery in the altcoin market. Using a chart that tracks the total altcoin market cap (excluding Bitcoin), he reported signs of a rebound.

As of September 15, the altcoin market cap stands at approximately $868 billion. Looking ahead, van de Poppe forecasts that this figure could more than double, potentially surpassing its previous all-time high. His target?

A staggering $1.8 trillion by Q1 2025.

3 Bullish Signs Indicating the Arrival of Altseason

Another prominent crypto analyst, Moustache, who boasts over 130,000 followers on X, also weighed in on the future of altcoins on September 16, 2024.

Moustache shared his belief that altcoins deserve more attention, offering several reasons for his optimism.

He referenced a chart tracking the market cap of all cryptocurrencies excluding Bitcoin and Ethereum, identifying three key bullish signals that suggest "altseason is just around the corner."

Inverted Head and Shoulders Pattern

In a three-day chart tracking the total market cap of all cryptos excluding BTC and ETH, a classic bullish signal known as the "Inverted Head and Shoulders" pattern has formed. This pattern often indicates an impending upward price movement.

Breaking a Six-Month Downtrend

Since mid-March 2024, the altcoin market has experienced a roughly six-month downtrend. However, signs now suggest that this downward trajectory may soon be broken.

MACD Triangle Breakout

The Moving Average Convergence Divergence (MACD) indicator is showing a breakout from a triangular pattern that had persisted for approximately three months, further supporting a bullish outlook.

While the number of altcoins has skyrocketed over the past few years, it's possible that some of these will be phased out as the market matures. However, major altcoins continue to see ongoing development and real-world use cases, making them strong candidates for future growth.

In recent months, there has also been a surge in announcements related to altcoin investment trusts. Some analysts are even predicting the launch of new altcoin spot ETFs. Should this news materialize, it could trigger a significant price rally in the altcoin market.

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