- Crypto analyst Dan Gabardello forecasts an imminent altcoin season.
- Historical data suggests a breakout 140-154 days post-Bitcoin halving.
- Bitcoin dominance approaching a critical level could signal the start.
The cryptocurrency market is on the verge of a bull run as analyst Dan Gabardello pinpointed a 3-11 week window for the start of altcoin season.
Gabardello’s analysis is based on historical market patterns, suggesting the current market conditions resemble those seen before previous altcoin booms. In a video posted on X (formerly Twitter), is where he noted such a potential raising hopes that the long-awaited breakout may be near.
Gabardello acknowledged the frustration among altcoin investors, as many of these digital assets have yet to revisit their all-time highs despite Bitcoin’s recent resurgence. He notes that the total crypto market cap remains below its peak, a key indicator that could signal the onset of altcoin season once it breaks through.
The analyst’s predictions are rooted in patterns observed in previous market cycles. In both of the last two cycles, altcoin seasons began roughly 140 to 154 days after the Bitcoin halving.
Currently, the market appears to be approaching a similar timeframe, with the total crypto market cap poised to break its previous swing high. Meanwhile, the current crypto market cap stands at $2.2 trillion, an approximately 30% decline from its 2021 all-time high when it slightly crossed $3 trillion.
Bitcoin dominance is another crucial factor in Gabardello’s analysis, which he describes as nearing a pivotal level. Historically, a peak in Bitcoin dominance, followed by a decline, has marked the beginning of altcoin seasons. Gabardello estimates this shift could happen around 200 days after the most recent Bitcoin halving, aligning with his projected timeline for an altcoin breakout.
By combining these data points, Gabardello suggests that the altcoin season could commence within the next 3 to 11 weeks. Essentially, this forecast highlights a clear window for altcoin investors to watch for a relief from the recent market downturns.
Even with this optimism, Gabardello cautions investors to consider broader macroeconomic factors, on-chain data, and global political events, all of which could impact the timing and strength of any altcoin rally.
Moreover, the analyst acknowledges the possibility that the expected breakout might not occur and encourages investors to prepare for all scenarios, including potential market downturns.
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