A crypto trader has rejected the claims that the Altcoin season is already over, arguing that it has not even started yet, because many tokens are always near their local price.
“I do not understand why people are starting to say that a lowering market is approaching,” said MN Trading Capital, Michaël Van de Poppe, in a position on May 28.
Call on the mount of the Altcoin season
“They are literally below,” added Van de Poppe before declaring that the “last 12 to 24 easy months arrive”. While many altcoins have displayed gains over the past 30 days, they remain below their levels of the market trend to the inauguration of US President Donald Trump in January.
Solana (Sol) posted 17.84% of gains in the last 30 days, negotiating $ 175.17, but is still down 32% since January 19, according to CoinmarketCap. Meanwhile, XRP (XRP) posted 1.98% gains, trading at $ 2.31, but has been down 29.35% since January 19.
Van de Poppe’s complaint comes after Bitcoin (BTC) merchants recently called for a decline after reaching its $ 111,970 of Green Weekly candles from $ 111,970.
Other analysts have echoed the feelings similar to Van de Poppe.
“Soon Altcoins will turn into a forest fire,” said Crypto Merchant Davinci Jeremie. Meanwhile, Crypto Trader Mustache said that “Alts-season is not only a meme. They are women and a gentleman ”.
In relation: Roaring yields of altcoins and the fall in the domination of the stablecoin USDT suggest that “Altsason” is here
Many participants in the cryptography market believe that the Altcoin season will start after Ether (ETH) has a period of outperformance compared to bitcoin.
The ETH / BTC ratio is 0.02430, up 26.74% in the last 30 days, according to tradingView data.
However, the Altcoin CoinmarketCap Altcoin season index – which follows the performance of the 100 best altcoins compared to Bitcoin in the last 90 days – still shows the leaning market towards Bitcoin, with a score of 24 out of 100.
Fartcoin (Fartcoin) led the 100 best cryptocurrencies in gains in the last 90 days with an increase of 316.72%, followed by four (shape) to 148.15%and virtual (virtual) protocol to 107.47%.
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This article does not contain investment advice or recommendations. Each investment and negotiation movement involves risks and readers should conduct their own research when they make a decision.
