Real Vision’s chief crypto analyst Jamie Coutts claimed that high-quality altcoin projects could soon see significant price rises. Coutts added that he sees strong signals suggesting the market might be near a bottom.
Analyst Believes Altcoins Will Continue to Struggle
Coutts’ new dip prediction is based on a connection between the top 200 equal-weighted index and the market cap ratio. The top 200 equal-weighted index tracks the performance of the 200 largest cryptocurrencies by market cap compared to Bitcoin (BTC). According to Coutts, historical data supports this indicator, and some altcoins may soon complete their corrections and reverse.
The analyst pointed out that small-cap altcoins are currently underperforming significantly. He emphasized that small-cap altcoins will struggle until Bitcoin surpasses its all-time high. However, he noted that for the market to recover overall and experience an altcoin season, this ratio needs to turn upward.
Potential Timeline for Altcoin Recovery
Another prediction by the analyst is that the altcoin market recovery may not occur until the end of 2024 or early 2025. Coutts predicts that most altcoins are underperforming compared to BTC and that this recovery process could take several months.
According to his analysis, the current situation resembles the sudden market drops experienced in 2020. However, this time he predicts the market will enter a long-term recovery phase rather than a crash like the one at the end of 2022.
Coutts advised altcoin investors to be patient, stating that this market cycle could be a historic opportunity. He added that although the altcoin recovery process will take time, the market might be approaching a bottom, which could mean significant future gains.
