BlockNews
FOLLOW ON X
  • CRYPTO
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • TECHNOLOGY
  • OPINION
No Result
View All Result
BlockNews
  • CRYPTO
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • TECHNOLOGY
  • OPINION
No Result
View All Result
BlockNews
Home CRYPTO

Analyst Predicts Altcoin Bottoming: Early Summer Prelude to Bull Run

by Drop Gorn
May 10, 2024
in CRYPTO
Reading Time: 3 mins read
A A
2
SHARES
34
VIEWS
Share on XShare in TelegramShare on Reddit
  • Altcoins are expected to bottom out in early summer before starting a bull run, according to market analysts.
  • For an altcoin bull run to occur, Bitcoin needs to break out from its current range first.
  • Despite a potential local bottom in June, increased investment and favorable regulations are required for a significant altcoin turnaround.

The cryptocurrency market has seen a slump in altcoin prices over the past month. However, some analysts believe altcoins could be nearing a bottom before the next bull cycle begins.

When Could Altcoins Bottom Out?

Some analysts predict altcoins could find their local bottom around June. According to popular crypto analyst Rekt Capital, altcoins typically bottom out in early summer based on historical chart patterns.

Rekt Capital points out that altcoins bottomed in early February, sold off around the Bitcoin halving, and now could bottom again in the coming months.

Crypto analysts are predicting a potential bottom for altcoins by early summer

Do you agree? pic.twitter.com/qu1wWvrXtQ

— BlockNews.com (@blocknewsdotcom) May 10, 2024

Alex Onufriychuk, a blockchain advisor at QUBIC Labs Accelerator, also believes the lack of new liquidity from Bitcoin ETFs in the US and Hong Kong indicates a prolonged consolidation period. This could lead altcoins to bottom out by June.

What’s Needed for an Altcoin Rally?

While altcoins may find a local price bottom soon, analysts say a significant bull run would require a Bitcoin breakout first.

Aurelie Barthere, principal research analyst at Nansen, notes that altcoins tend to perform well when crypto sentiment is very bullish. For altcoins to outperform, Bitcoin likely needs to break above its 20-day EMA and resume a clear uptrend.

Onufriychuk agrees that even after bottoming out, altcoins would need increased retail and institutional investment as well as favorable regulations to start a major bull trend.

Other Signs of a Potential Altcoin Rebound

Some other signs point to a possible altcoin rebound on the horizon:

  • Most major altcoin moving averages are flashing buy signals on the monthly time frame.
  • The M2 money supply recently turned positive year-over-year for the first time since November. This could send some new money toward altcoins as investors seek inflation hedges.

While timing the exact bottom is difficult, analysts are keeping an eye on summer as a potential turning point for altcoins before the next bull run. But Bitcoin likely needs to break out first to restart the crypto hype cycle and send altcoin prices surging higher.

Tags: Alex OnufriychukAltcoinAurelie BarthereBitcoinQUBIC LabsRekt Capital
Tweet1ShareShare
Previous Post

OpenAI Set to Launch AI-Powered Search Product, Challenging Google

Next Post

Bitcoin Sees Volatility Amidst Market Liquidity Fluctuations and Economic Data

DON'T MISS THESE! HOT OFF THE PRESS

Here’s Why Dogecoin’s Jumping Again Today
CRYPTO

Here’s Why Dogecoin’s Jumping Again Today

July 18, 2025
PEPE’s Making Noise, But Is RTX the Sleeper Hit of 2025?
CRYPTO

PEPE’s Making Noise, But Is RTX the Sleeper Hit of 2025?

July 18, 2025
Is Polkadot Dead or Just Getting Started? Here is the Shocking Truth
CRYPTO

Is Polkadot Dead or Just Getting Started? Here is the Shocking Truth

July 18, 2025
President Trump Says Crypto is Good for the Dollar, Claiming Genius Act Will Ensure America’s Dominance
CRYPTO

President Trump Says Crypto is Good for the Dollar, Claiming Genius Act Will Ensure America’s Dominance

July 18, 2025
President Trump Officially Signs Genius Act Into Law: Here is Why This is Game Changing
CRYPTO

President Trump Officially Signs Genius Act Into Law: Here is Why This is Game Changing

July 18, 2025
Trump Signs Genius Act Stablecoin Act, Says They Named the Bill After Himself
CRYPTO

Trump Signs Genius Act Stablecoin Act, Says They Named the Bill After Himself

July 18, 2025
Load More

Related News

Here’s Why Dogecoin’s Jumping Again Today

Here’s Why Dogecoin’s Jumping Again Today

July 18, 2025
PEPE’s Making Noise, But Is RTX the Sleeper Hit of 2025?

PEPE’s Making Noise, But Is RTX the Sleeper Hit of 2025?

July 18, 2025
Is Polkadot Dead or Just Getting Started? Here is the Shocking Truth

Is Polkadot Dead or Just Getting Started? Here is the Shocking Truth

July 18, 2025
President Trump Says Crypto is Good for the Dollar, Claiming Genius Act Will Ensure America’s Dominance

President Trump Says Crypto is Good for the Dollar, Claiming Genius Act Will Ensure America’s Dominance

July 18, 2025
President Trump Officially Signs Genius Act Into Law: Here is Why This is Game Changing

President Trump Officially Signs Genius Act Into Law: Here is Why This is Game Changing

July 18, 2025
Twitter Telegram Threads

BLOCKNEWS.COM

BlockNews

BlockNews.com is your premier source for real-time cryptocurrency, blockchain, and financial market news.

Our mission is to deliver accurate, timely, and insightful information to help both seasoned investors and newcomers navigate the evolving digital economy.

With in-depth analysis, exclusive insights, and up-to-date news, BlockNews.com keeps you informed on the latest trends in crypto, DeFi, NFTs, tech, and beyond.

Stay ahead of the herd with BlockNews.com

RESOURCES

  • About
  • Contact Us
  • Terms and Conditions
  • Privacy Policy

POPULAR TOPICS

$ADA $XRP AI Avalanche Binance Bitcoin Bitcoin ETF blackrock Blockchain BTC Business Cardano Chainlink China Coinbase Coinglass crypto cryptocurrency Crypto Exchange Crypto Regulation DeFi Dogecoin Donald Trump Elon Musk ETF eth ethereum Federal Reserve FTX grayscale Memecoin metaverse Microstrategy NFT NFTs PEPE ripple sec Shiba Inu Solana Stablecoin US Web3 X xrp

GET QUICKER UPDATES ON X

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.

No Result
View All Result
  • HOME
  • CRYPTO
  • MEMECOINS
  • TECHNOLOGY
  • POLITICS
  • FINANCE
  • NFT
  • DEFI
  • GUIDES

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.