Anonymous crypto analyst Altcoin Sherpa has redirected his focus towards the altcoin market and made predictions about when trading activity for altcoins may start to increase. The analyst also shared his expectations for Bitcoin (BTC).
“Altcoin Season is Approaching Rapidly”
Experienced crypto analyst Altcoin Sherpa stated on his X account that an altcoin season could come within months and said, “In both cases, I see December/January as another strong period for altcoins, and you should too. Fasten your seat belts.”
The analyst closely monitors the status of Ethereum (ETH), the largest altcoin against Bitcoin (BTC), and highlighted that a 5% drop in the ETH/BTC pair could be a sign of the beginning of the altcoin season. He said:
“It’s time to focus on altcoins. As always, I am expecting a very strong 4th quarter or 1st quarter. These are likely the best times of the year to trade. The 0.055 BTC area in the ETH/BTC pair should be closely monitored. I expect a pullback to this level and then a sharp rise in Ethereum with ETH/BTC.”
The analyst emphasized that December and January have always been good performing months for cryptocurrencies, stating, “December and January are some of the best times of the year to trade cryptocurrencies. BTC has almost always performed well (even in bear markets) and ETH has performed even better. Altcoin seasons begin during these times.”
Altcoin Sherpa also closely follows the Bitcoin Dominance (BTC.D) chart, which shows the percentage of total market value held by BTC, for an altcoin season. Regarding the changes in the Bitcoin Dominance chart, the analyst noted, “Bitcoin Dominance shows the share of BTC in the total market value. When BTC.D drops, it means that altcoins’ prices (alt/BTC pairs) are rising, indicating that altcoins are performing better. If you hold altcoins, you expect BTC.D to decrease.”
The analyst also made an estimate that if the expected altcoin season begins, it could last for weeks. He stated, “Altcoins usually experience some kind of surge in December or January of the following year. Why does this happen? I really don’t know the mechanisms behind it, but seasonality in the cryptocurrency market is very cyclical. I think we will have a good period for two to six weeks.”
Analyst Answers the Question “What’s Next for Bitcoin?”
In addition to all this, Altcoin Sherpa mentioned that he expects Bitcoin to show high volatility during an altcoin season. Addressing the question of “What should BTC do during this period?” to his followers, the analyst replied, “It will probably either make significant moves or rise. When BTC becomes the star of the show, you rarely see altcoins rise. It makes sense for something like that to happen.”
Looking at the Bitcoin chart shared by the analyst, it can be seen that he expects Bitcoin to surpass the $29,000 level within this month, drop to the $25,000 range again in mid-November, rise to the $32,000 range in December, and then retest the $30,000 level.
