A closely followed figure in the cryptocurrency world, Altcoin Sherpa, painted a promising picture for altcoin investors. The analyst told his followers on X that altcoins could experience a rise similar to the rally between November 2023 and March 2024.
Expects Bitcoin to Hit Record High Before Altcoin Rally
According to Altcoin Sherpa, the next altcoin rally could start in December this year or January 2025. The analyst predicts this rally will be triggered by Bitcoin reaching an all-time high and then cooling down.
In his commentary, the analyst said, “I think this rally could be triggered by Bitcoin reaching an all-time high. This could happen in December or January, and then altcoins could gain strength.”
However, Altcoin Sherpa emphasized that the rally might not be a significant altcoin season like in previous years. The analyst added, “A real altcoin season like January 2021 may not happen for years. However, altcoins will largely recover, with only a few standout exceptions.”
Shared Altcoins He Considers Safe
Altcoin Sherpa also revealed some altcoins he currently considers offering “safe” trading opportunities. These include the decentralized finance (DeFi) protocol Aave (AAVE), XRP, and Layer-1 altcoins BNB (BNB) and Tron (TRX).
Among new projects, there is the Solana-based decentralized physical infrastructure project Network io.net (IO), DeFi protocols BounceBit (BB), and Blast (BLAST). The analyst noted that these new projects are “not very safe” but could be investable if Bitcoin maintains its strength.
On the other hand, Altcoin Sherpa listed high-risk but potentially higher-return memecoins such as Popcat (POPCAT), dogwifhat (WIF), and Pepe (PEPE). The analyst emphasized that these types of investment vehicles could bring significant gains but also come with high risks.
