Altseason 2021 May End Very Soon, Predicts A Popular Analyst

Bitcoin price rally attained the highest ever levels in a very small time frame and marked ATH at $64,863. Yet the asset falling into a bearish trap declined to a greater extent, draining out much of the gains accumulated. Moreover, Elon Musk, with the withdrawal of BTC payments for purchase of Tesla cars fueled the dump.

Since then Bitcoin-BTC is trending in a very narrow region very close to $50k. After repeated attempts to surpass $50K, it again lands up below the levels. Moreover, the BTC dump has also impacted the Ethereum prices as it is also attempting hard to regain its lost position above $4000, but fails each time.

Amid the most valued cryptocurrencies in the space are experiencing a tough phase, most of the altcoins are rallying high. The levels attained by most of the cryptocurrencies are beyond imagination. However, Micheal van de Poppe, a popular analyst believes the altcoins may plunge harder than that of bitcoin in coming days.

The market is going to top out in a blow-off top, just like previous cycles.

In such a blow-off top, #altcoins will go down even more than $BTC.

Right now, #altcoins are showing strength and continuing, while #Bitcoin has a healthy correction after a run from $10K to $63K.

— Michaël van de Poppe (@CryptoMichNL) May 15, 2021

The analyst believes the BTC price has slowed down a little after an unstoppable rally from $10000 to $60000. And hence once the profits again start pouring into the Bitcoin-BTC ecosystem, the altcoins may plunge losing all the gained profits.

Moreover, the bitcoin dominance is falling every new single day, which of course manifests a strong altcoin season. And, the new projects are attracting many new traders, with a huge influx of volumes in the crypto space. And hence once the profits are flown back to Bitcoin-BTC, the Altseason is expected to end, which is very near as said by analyst, The Moon.

Published at Sat, 15 May 2021 14:11:08 +0000