As the horizon brightens with the anticipation of another altcoin season, investors are on the lookout for the next big cryptocurrency.
With a diverse range of tokens gaining traction, the market is ripe with opportunities for those willing to dive into the depths of blockchain technology and its myriad applications.
45 Days Until Altcoin Season
According to renowned analyst Rekt Fencer, altcoin season might be around the corner. This optimistic outlook suggests it is now the time to select the right low-cap cryptocurrencies, aiming for the elusive 100x returns that many dream of.
For this reason, it is crucial to understand the sequence of a typical bull run. Ran Neuner, a South African entrepreneur, explained that altcoin season traditionally starts with a surge in the price of Bitcoin. This is followed by Ethereum and then high-cap cryptocurrencies such as Solana and Avalanche.
“[Bitcoin is] attacking the all-time high with huge momentum. Now, the reality is that as soon as that all-time high is breached [again], and it could happen as soon as today, it is like the gun goes off for altcoins, and the race begins,” Neuner said.
Neuner pointed out that becuase Bitcoin surpassed its previous all-time high, altcoins could also reach new highs about 70 days later. It is worth noting 22 days following Bitcoin’s peak, altcoins often undergo a correction period.
Read more: Which Are the Best Altcoins To Invest in April 2024?
The crypto market is currently 14 days into this correction phase, and the market is beginning to recover. This pattern suggests that if the cycle continues as it has historically, altcoins season could start in approximately 45 days.
“To see how far [altcoins] have to go between now and hitting the all-time, that means that altcoins need to go up by 50%. Do you understand how violent a move of 50% in the next 45 days is going to be? It’s face melting,” Neuner emphasized.
Meanwhile, Rekt Fencer highlighted that the low-cap coins and meme coins could benefit the most, albeit the higher risk. He said that achieving 2x to 10x gains is common, especially, in the early stages of altcoin season.
The Cryptocurrencies to Watch
To navigate altcoin season, investors are advised to build a diversified crypto portfolio, stick to their investment narratives, and exercise patience.
Rekt Fencer shared a list of six under-the-radar altcoins that may have significant potential. Leading the pack is Polyhedra Network (ZK), a project focused on Web3 interoperability, scalability, and privacy through zero-knowledge proof technology. With a market cap of $286.3 million and a current price of $3.14, Polyhedra presents an interesting entry point.
Not to be overlooked, the quirky meme coin Wolf Wif Ballz (BALLZ) continues to charm its way through the Solana ecosystem. With its blend of humor and investment potential, BALLZ, priced at $0.05 and boasting a $50.2 million market cap, exemplifies the unpredictable nature of meme coins.
Portal (PORTAL) emerges in the GameFi space, offering a cross-chain gaming ecosystem that bridges disparate blockchain networks. Coupled with staking rewards, PORTAL, at $2.07 and a $306.6 million market cap, is crafting a new narrative for gamers.
Read more: 11 Best Altcoin Exchanges for Crypto Trading in March 2024
Meanwhile, Boson Protocol (BOSON) enables the tokenization, transfer, and trade of physical goods as NFTs. BOSON, priced at $0.68 with an $83.1 million market cap, aims to revolutionize the perception of value and ownership in the digital age.
Finally, the market of artificial intelligence in crypto is led by pioneers such as VoluMint (VMINT) and Monai (MONAI). These projects leverage AI to enhance trading activity and integrate LLMs with blockchain protocols, respectively.
In preparing for the upcoming altcoin season, investors should conduct thorough research, consider diversifying their portfolios, and remain cognizant of the risks associated with cryptocurrency investments. With the right strategy and a bit of patience, the next few months could be transformative for the savvy crypto investor.
Trusted
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
