Imagine, if you will, the altcoin market as a grand ballroom, where each digital currency waltzes with ambition and promise. According to a certain analyst, this ballroom is gearing up for one final, magnificent dance. But beware, dear investor, for only those coins with a genuine purpose and bustling network activity shall be invited to the grand finale. The rest? Well, they might as well be wallflowers, destined to watch from the sidelines. 🎩💃
Real Vision’s chief crypto maestro, Jamie Coutts, shared his musings in a livestream with co-founder Raoul Pal, hinting at a possible last hurrah for altcoins. “Will this rally endure six to twelve months? Ah, the eternal question!” he pondered, with the air of a philosopher contemplating life’s mysteries. 🤔✨
Follow the ‘North Star’ of Network Activity
Coutts, with a twinkle in his eye, suggests that the key to navigating this crypto sea lies in observing where network activity sails. “It’s like chasing the Northern Lights,” he mused, “only those with the brightest glow will capture our attention.” In a market flooded with over36 million altcoins (yes, you read that right), it’s quality, not quantity, that will shine through. 🌟
Ethereum, ever the belle of the ball, leads with a majority share of the total value locked, followed by a parade of hopefuls like Solana, Bitcoin, BNB Smart Chain, and Tron. Coutts sees a possible uptick in the altcoin market within the next two months, advising traders to follow the “north star” of network activity. 🚀
“By June, expect altcoins to pirouette once more, assuming Bitcoin is back at its all-time high.” 📈💰
On March28, Coutts hinted at Bitcoin’s potential to reach new heights by the end of Q2, unfazed by the specter of tariffs and recession worries. 🌪️📊
Alas, the blockchain ballroom has seen better days, with network activity experiencing a sharp decline. Solana, once a lively dancer, has seen its active addresses wane, dropping nearly40% from November’s figures. 😢💔
Altcoin Indicators: A Sea of Red
Despite the whispers of a rally, the signs of an altcoin season remain as elusive as a mirage. Capriole Investments’ Altcoin Speculation Index has plummeted, and CoinMarketCap’s Altcoin Season Index points towards a Bitcoin-dominated market. So much for the altcoin party, it seems. 🚦❌
But wait, not all is lost! Some analysts argue that Bitcoin dominance is no longer the definitive signal for altcoin season. CryptoQuant CEO Ki Young Yu suggests looking at trading volume instead. Perhaps there’s hope yet for our altcoin protagonists. 🕵️♂️📈
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2025-04-04 07:49