When Will Altcoin Season Come? Two Analysts Share Their Thoughts
Will the altcoin season that the entire cryptocurrency market has been waiting for come soon? Here are the predictions.
Altcoins have lagged Bitcoin throughout the year, weakened by ongoing regulatory uncertainty, according to a report by K33 Research, which noted that the upcoming U.S. election results have increased the importance of smaller cryptocurrencies compared to Bitcoin.
“Bitcoin’s characteristics and widespread availability allow it to thrive in the medium term, regardless of the US election result,” said K33 Research analysts Vetle Lunde and David Zimmerman. “For altcoins, the election is a more sensitive issue.” The path forward for altcoins will likely depend more on the election results than on Bitcoin’s path, the analysts explained.
While Bitcoin’s dominance has increased in recent months, Coinbase’s head of research David Duong believes the election could be a turning point for altcoins to catch up. “I expect Bitcoin’s dominance to start plateauing here because altcoin names will probably come to the forefront more because of the election and people will be more interested in them,” Duong said in an interview.
He noted that the elections could act as a catalyst for crypto prices, but broader macroeconomic conditions will also play a major role in the market’s progress. “I would actually say I’m pretty bullish on probably the first half of Q1 2025, partly because we’re in a very strong macro environment, which I think is very positive,” Duong said. He expressed his belief that regardless of who wins, the cryptocurrency market as a whole will benefit from the elections.
*This is not investment advice.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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