Crypto Altcoin Season Speculated to Commence in Weeks, Bloomberg Analyst Suggests

IconCryptoNewsTerminal Staff29 May, 2024

cryptonews.jpg

Crypto Altcoin Season Speculated to Commence in Weeks, Bloomberg Analyst Suggests

Jamie Coutts, a crypto market analyst at Bloomberg Intelligence, stated on Twitter that an altcoin season may be imminent. This prediction is based on the observation that the SCP (Smart Contract Platform top 100 index) sector and the Altseason Index are trending upwards simultaneously. Historically, when both these indicators rise in tandem, it has signaled the advent of an altcoin season. Furthermore, Coutts believes that the upcoming U.S. election and liquidity cycle could provide additional impetus for an altcoin season. However, he emphasizes that this is merely a prediction, and investors should exercise caution and conduct thorough research before making any investment decisions.

Related News