{"id":603725,"date":"2024-04-17T21:00:54","date_gmt":"2024-04-17T21:00:54","guid":{"rendered":"https:\/\/uniquehot.com\/?p=603725"},"modified":"2024-04-17T15:28:38","modified_gmt":"2024-04-17T15:28:38","slug":"are-altcoins-cooling-off-analyst-weighs-in-on-this-cycles-market","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/are-altcoins-cooling-off-analyst-weighs-in-on-this-cycles-market\/","title":{"rendered":"Are Altcoins Cooling Off? Analyst Weighs In On This Cycle\u2019s Market"},"content":{"rendered":"

Many investors expressed worries about the crypto market corrections during this cycle. Bitcoin\u2019s price drop has dragged altcoins with them, and, as a result, a more pessimistic sentiment has started to brew among some sectors of the crypto community.<\/p>\n

Analysts and traders have reassured investors that the market fluctuations are a normal part of the journey. Some urge the community to look at the bigger picture, as altcoins remain above levels not seen in years.<\/p>\n

Related Reading: Traders Forecast Massive Rally For Altcoins, But Why Is Sentiment \u201cDown\u201d?<\/a><\/div>\n

Renowned crypto analyst Altcoin Sherpa weighed in on the matter, exploring some of the reasons and differences that make this bull cycle different from the 2020s.<\/p>\n

Time For An Altcoins Cool-Off?<\/h2>\n

In an X post, Altcoin Sherpa asserted<\/a> that there\u2019s a high possibility \u201cthat altcoins are done for the next 1-4 months.\u201d The analyst considers that, right now, most of the market needs \u201ctime to chill out and consolidate after such a big run.\u201d<\/p>\n

Despite recently falling below the $1 trillion market capitalization, altcoins have performed remarkably in the last few months. In 2024, cryptocurrencies\u2019 market cap, excluding Bitcoin\u2019s, has increased by 22.79%, according to TradingView data.<\/p>\n

Altcoins market cap has also considerably surged in longer timeframes, with a 91.31% and 52.46% jump in the last six months and the past year. This \u201cbig run,\u201d as Sherpa called it, sits the cryptocurrency market at levels like those seen in 2022.<\/p>\n

However, what worries the crypto analyst is, despite the overall performance, \u201cmany alts didn\u2019t even run that hard over the last few months.\u201d He illustrated his point with Chainlink\u2019s<\/a> native token, LINK.<\/p>\n

Despite the +500 days of accumulation, LINK investors only got 3-4x gains depending on when they go in. Now, the token\u2019s price is \u201cstrongly pulling back.\u201d Expectations for altcoins during this cycle seemingly play a significant role in the current sentiment.<\/p>\n

As one X user pointed out<\/a>, LINK was anticipated to be one of the biggest winners of this cycle, Sherpa replied that he \u201cexpected more lol.\u201d The user playfully commented, \u201cNo dino coins and new and shiny coins are the better bet.\u201d<\/p>\n

How Did The Market Change?<\/h3>\n

The previous comment highlights what appears to be a significant difference between this bull run and the 2020s. Choosing your bag has become more difficult since the market has expanded significantly.<\/p>\n

Sherpa considers that \u201cnow more than ever, it is super important to choose the altcoins that are going to run hard.\u201d In 2020, the massive altseason made \u201ceverything go up consecutively.\u201d<\/p>\n

This time, the liquidity is more fragmented, and \u201conly a few sectors are pumping.\u201d The AI and memes sectors<\/a> have been the hottest topic in 2024, and layer-1 (L1) tokens, like SEI, have also performed well. \u201cEverything else? Not great,\u201d remarked Sherpa.<\/p>\n

The massive number of tokens, both newly launched and old ones, are finding it more difficult to \u201ccapture mindshare\/attention.\u201d<\/p>\n

Regarding retail investors, the analyst is not surprised that the default choice is memecoins<\/a> instead of \u201ctrying to learn about some DeFi veRewards type of stuff. Or Oracle or L1s or modular or anything else.\u201d<\/p>\n

The analyst suggested investors \u201cmove to real value\u201d like ETH and SOL. He also considers that big token launches, with significant money behind them, \u201chave some real value.\u201d These coins, as stated in the post, have the potential to \u201cdo very well\u201d once Bitcoin stabilizes.<\/p>\n

Sherpa\u2019s market analysis closes with a \u201cpretty bearish\u201d outlook for the following months. The growing difficulty in keeping user attention and \u201cfor people to become strong users\/community members\u201d for many projects has made the market a different playground.<\/p>\n

Ultimately, the analyst pointed out that \u201cportfolio rebalances are necessary\u201d and said<\/a>\u00a0he still believes this run is not over.<\/p>\n

Related Reading: Crypto Analyst Says Don\u2019t Buy Altcoins Just Yet \u2013 Here\u2019s Why<\/a><\/div>\n

\"Altcoins,<\/p>\n

Altcoins market cap sitting at $981 billion in the weekly chart. Source: TOTAL2 on TradingView<\/a><\/pre>\n
Featured Image from Unsplash.com, Chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Many investors expressed worries about the crypto market corrections during this cycle. Bitcoin\u2019s price drop has dragged altcoins with them, and, as a result, a more pessimistic sentiment has started to brew among some sectors of the crypto community. Analysts and traders have reassured investors that the market fluctuations are a normal part of the journey. Some urge the community to look at the bigger picture, as altcoins remain above levels not seen in years. Related Reading: Traders Forecast Massive Rally For Altcoins, But Why Is Sentiment \u201cDown\u201d? Renowned crypto analyst Altcoin Sherpa weighed in on the matter, exploring some of the reasons and differences that make this bull cycle different from the 2020s. Time For An Altcoins Cool-Off? In an X post, Altcoin Sherpa asserted that there\u2019s a high possibility \u201cthat altcoins are done for the next 1-4 months.\u201d The analyst considers that, right now, most of the market needs \u201ctime to chill out and consolidate after such a big run.\u201d Despite recently falling below the $1 trillion market capitalization, altcoins have performed remarkably in the last few months. In 2024, cryptocurrencies\u2019 market cap, excluding Bitcoin\u2019s, has increased by 22.79%, according to TradingView data. Altcoins market cap has also considerably surged in longer timeframes, with a 91.31% and 52.46% jump in the last six months and the past year. This \u201cbig run,\u201d as Sherpa called it, sits the cryptocurrency market at levels like those seen in 2022. However, what worries the crypto analyst is, despite the overall performance, \u201cmany alts didn\u2019t even run that hard over the last few months.\u201d He illustrated his point with Chainlink\u2019s native token, LINK. Despite the +500 days of accumulation, LINK investors only got 3-4x gains depending on when they go in. Now, the token\u2019s price is \u201cstrongly pulling back.\u201d Expectations for altcoins during this cycle seemingly play a significant role in the current sentiment. As one X user pointed out, LINK was anticipated to be one of the biggest winners of this cycle, Sherpa replied that he \u201cexpected more lol.\u201d The user playfully commented, \u201cNo dino coins and new and shiny coins are the better bet.\u201d How Did The Market Change? The previous comment highlights what appears to be a significant difference between this bull run and the 2020s. Choosing your bag has become more difficult since the market has expanded significantly. Sherpa considers that \u201cnow more than ever, it is super important to choose the altcoins that are going to run hard.\u201d In 2020, the massive altseason made \u201ceverything go up consecutively.\u201d This time, the liquidity is more fragmented, and \u201conly a few sectors are pumping.\u201d The AI and memes sectors have been the hottest topic in 2024, and layer-1 (L1) tokens, like SEI, have also performed well. \u201cEverything else? Not great,\u201d remarked Sherpa. The massive number of tokens, both newly launched and old ones, are finding it more difficult to \u201ccapture mindshare\/attention.\u201d Regarding retail investors, the analyst is not surprised that the default choice is memecoins instead of \u201ctrying to learn about some DeFi veRewards type of stuff. Or Oracle or L1s or modular or anything else.\u201d The analyst suggested investors \u201cmove to real value\u201d like ETH and SOL. He also considers that big token launches, with significant money behind them, \u201chave some real value.\u201d These coins, as stated in the post, have the potential to \u201cdo very well\u201d once Bitcoin stabilizes. Sherpa\u2019s market analysis closes with a \u201cpretty bearish\u201d outlook for the following months. The growing difficulty in keeping user attention and \u201cfor people to become strong users\/community members\u201d for many projects has made the market a different playground. Ultimately, the analyst pointed out that \u201cportfolio rebalances are necessary\u201d and said\u00a0he still believes this run is not over. Related Reading: Crypto Analyst Says Don\u2019t Buy Altcoins Just Yet \u2013 Here\u2019s Why Altcoins market cap sitting at $981 billion in the weekly chart. Source: TOTAL2 on TradingView Featured Image from Unsplash.com, Chart from TradingView.com<\/p>\n","protected":false},"author":614,"featured_media":590942,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[91121,136,34800,142,26263,8323,12837],"class_list":["post-603725","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoin-bearish","tag-altcoin-market","tag-altcoin-market-cap","tag-altcoins","tag-crypto-analyst","tag-eth","tag-sol"],"acf":[],"yoast_head":"\nAre Altcoins Cooling Off? 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Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology. From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations. In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn\u2019t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored. At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money. After the failure of her home country\u2019s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education. Moreover, the peculiar nature of the crypto community sparked Rubmar\u2019s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies \u00ad\u2013or her favorite memes. In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. Despite her many attempts to learn different instruments, Rubmar only knows how to play the xylophone, which she played for 7 years in her school\u2019s marching band. She also has a passion for learning new languages and cultures, having set the goal to learn another six languages \u00ad\u2013 currently attempting to learn Italian and Korean. Scrapbooking, paper crafting, and bookbinding are her biggest interests outside of work, constantly taking classes and attending workshops to learn new techniques. The rest of her free time is spent stressing over football matches and transfer market news or feeding cats \u2013hers or stray. In summary, Rubmar seeks to present entertaining and educational pieces to be enjoyed by everybody, aiming to report on the latest news and offer a unique perspective while adding a meme or a pun whenever possible.\",\"url\":\"https:\/\/uniquehot.com\/author\/rubmargarcia\/\"}]}<\/script>\n","yoast_head_json":{"title":"Are Altcoins Cooling Off? 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Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology. From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations. In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn\u2019t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored. At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money. After the failure of her home country\u2019s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education. Moreover, the peculiar nature of the crypto community sparked Rubmar\u2019s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies \u00ad\u2013or her favorite memes. In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. Despite her many attempts to learn different instruments, Rubmar only knows how to play the xylophone, which she played for 7 years in her school\u2019s marching band. She also has a passion for learning new languages and cultures, having set the goal to learn another six languages \u00ad\u2013 currently attempting to learn Italian and Korean. Scrapbooking, paper crafting, and bookbinding are her biggest interests outside of work, constantly taking classes and attending workshops to learn new techniques. The rest of her free time is spent stressing over football matches and transfer market news or feeding cats \u2013hers or stray. 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