Crypto Analysts Predict Major Altcoin Gains, Reveal Key Bitcoin (BTC) Dominance Metric to Watch

The crypto market faces a difficult re-accumulation phase, marked by changing sentiments and mounting pressure on investors. Top crypto analysts, ParabolicPump and Crypto_Scient, have shared their insights on the ongoing market trends, emphasizing the importance of staying calm and strategic during this period.

Crypto analysts are predicting major gains for altcoins in the coming months, and they say that a key metric to watch closely is Bitcoin (BTC) dominance.

As the crypto market continues to re-accumulate after a strong rally in 2021, several top analysts have shared their insights on the ongoing market trends. ParabolicPump, a pseudonymous crypto analyst with over 300,000 followers on Twitter, highlighted the importance of staying calm and strategic during this period.

In a recent tweet, ParabolicPump urged investors not to panic sell amid the current market volatility, which he believes is a natural part of the bull run. He noted that the market has been in a prolonged re-accumulation phase for altcoins, and he expects this trend to continue.

“Don’t panic sell, guys. The bull run is far from over, and we’re simply in a prolonged re-accumulation phase for alts. The prevailing negative sentiment is also reminiscent of past market conditions where major reversals began. Sentiment is extremely toxic and perhaps the worst I have seen since the macro accumulation phase. That’s usually when we get the biggest move up in the market.”

He further pointed out that historically, every bull run has ended with a substantial drop in Bitcoin dominance, which paves the way for altcoin gains. “The same will happen again in the coming months. That’s when we’ll see the biggest gains for altcoins!”

ParabolicPump advised investors to stay resilient during the current market movements, emphasizing that significant targets and potential gains lie ahead. He also noted that the crypto market tends to follow a natural sequence of bull and bear cycles, and the current market downturn is to be expected within the broader uptrend.

Another pseudonymous crypto analyst, known as Crypto_Scient, also shared his market observations and strategies. He noted that the market drop was anticipated, and he had predicted it 10 days prior.

“I predicted this market drop 10 days ago. I will observe the price action around support for the next few days and start adding spot altcoins if support holds.”

He planned to observe the price action around current support levels before making any moves, suggesting a cautious but opportunistic approach to trading during this period of uncertainty.

Both analysts stressed the importance of patience and strategic holding during this phase. ParabolicPump highlighted the psychological challenges that investors face during extended re-accumulation periods, but he encouraged them to stay resilient.

“You have to survive these next days/weeks and you’ll be very thankful by the end of the bull run. Don’t let fear get the best of you during these times. Take it level by level and don’t rush decisions based on fear.”

News source：https://www.kdj.com/cryptocurrencies-news/articles/crypto-analysts-predict-major-altcoin-gains-reveal-key-bitcoin-btc-dominance-metric-watch.html

The above is the detailed content of Crypto Analysts Predict Major Altcoin Gains, Reveal Key Bitcoin (BTC) Dominance Metric to Watch. For more information, please follow other related articles on the PHP Chinese website!