What lies ahead for Bitcoin and altcoins? Analysts reveal possible scenarios and predictions

What lies ahead for Bitcoin and altcoins? Analysts reveal possible scenarios and predictions

How will events unfold in the cryptocurrency market in the coming weeks and months? This question is plaguing many investors who are trying to understand how Bitcoin (BTC) and altcoins like Ethereum (ETH), XRP, Solana (SOL) and Dogecoin (DOGE) will cope with the current selling pressure. According to analysts at the 10X Research platform, the situation still seems to be tense and they expect the market could face further fluctuations.

Bitcoin and the "Diamond Peak" pattern

Analysts point out that Bitcoin is currently following a pattern known as the "Diamond Peak". This technical signal usually indicates that prices may subsequently fall after a period of growth. 10X Research warns that if this pattern is confirmed, BTC could lose some of the gains it made during the November rally.

Ethereum under pressure

Altcoins, and Ethereum in particular, have come under considerable selling pressure. Although ETH has benefited from support, such as from Eric Trump, the sharp price decline has been caused by complex trading strategies such as hedging gamma options and liquidating futures. While Bitcoin has partially recovered from its decline, Ethereum remains under pressure and its price may continue to fall.

Waiting strategies for investors

Given the weak technical signals and continued economic uncertainty, analysts recommend investors take a wait-and-see approach. It is important to remain cautious and watch for possible signs of a turnaround before making further investment decisions.

When is the altcoin rally coming?

While analysts at 10X Research warn of a possible further decline, popular analyst Rekt Capital comes with more optimistic predictions. According to him, the altcoin rally could start after Bitcoin (BTC.D) reaches the 71% dominance peak. History shows that Bitcoin dominance reached the 71% resistance level when entering the 58-71% macro region. There may be a strong 5-10% drop in altcoins during this period, but if history repeats itself, the real altcoin season will only begin after Bitcoin dominance is rejected from 71%.

Conclusion

The future of Bitcoin and altcoins is still uncertain, but experts agree that investors should remain cautious and follow current trends. When and how the cryptocurrency market will take off is a question that requires careful analysis of the situation. However, once conditions stabilize, the coveted altcoin rally that many are waiting for may come.

*This is not an investment recommendation.

Coingarage Team