The Great Altcoin Boom May Be Around The Corner

The great altcoin boom is a phrase that is used to describe the rise of the altcoins which could be very possible in the coming weeks, according to analysts and many best cryptocurrency news sites.

Despite this altcoin craze, the valuation of the crypto market recently fell from $181 billion to $176 billion and lost more than $5 billion on a single day. Analysts are now predicting that while Bitcoin is slowly retracing from $5,600 to $5,400 – the altcoin season may has its 5 minutes now.

This altcoin boom, as the coming altcoin news show, could be led by any virtual coin but is expected to be initiated from cryptocurrencies such as Ethereum (ETH), Ripple (XRP) and EOS (EOS) which are now recording losses in the range of 2 to 6 percent and demonstrating a red scenario.

If Bitcoin continues to surpass the key resistance levels above $6,000 by next month and stabilizes at a high level, traders expect to see the great altcoin boom and the profitable “altcoin season” to emerge.

Normally, the crypto market sees some altcoin action when Bitcoin starts engaging in sideways price action or is stable in a tight price range. Even though this does not mean that new capital is injected into the altcoin market, it suggests that some existing investors in the crypto market are getting more comfortable making riskier bets – thereby initiating the great altcoin boom.

April – $BTC flies

May – $BTC sideways, #ALTS start to bounce

June – #ALTSEASON

— Satoshi Flipper (@SatoshiFlipper) April 23, 2019

Some traders still see risk and could not predict the start of the great altcoin boom. According to “The Crypto Dog” who shared his opinion on Twitter:

“Rug pull senses tingling. I managed to make it here up in $BTC, up in $USD. Going to keep it that way – tethering ~75% of my $crypto holdings. Playing with the rest. Maybe I get left behind, but I don’t think so.”

Despite Bitcoin’s increased dominance which now sits at its all-time high of 54.2%, the technical perspectives show that the great altcoin boom on the market is likely to produce a boost – and that the future altcoin news may show us a lot of new capital and confidence from investors. However, this altcoin boom is only possible if Bitcoin sees a strong upside movement and stabilizes above the crucial resistance levels.

Currently, the daily spot volume of BTC is at around $580 billion which is still a big up since the first week of March – and a good sign that the great altcoin boom may be around the corner.