Matthew Sigel, director of digital assets at VanEck, asserts that the recent rise in altcoins is contingent on Bitcoin 
$94,988 surpassing $100,000. He believes that Bitcoin will continue to gain value until it reaches this critical point.
Market Dynamics Indicate Buying Opportunities
The Altcoin Season Index has surged to 63, indicating an impending rally for Bitcoin. Leading altcoins such as Hedera and Stellar have made significant gains in the last three months.
“When the Altcoin Season Index exceeds 60, Bitcoin typically sees an average increase of 10% within a month.” -Matthew Sigel
Despite a slight market downturn, figures like JA Maartunn view the current dip as a strong buying opportunity for various assets, including Bitcoin.
As traditional asset returns decline, many are turning to alternatives like Bitcoin, potentially reshaping their investment portfolios.
“If we anticipate a growing balance sheet gap and higher inflation, bonds will appear less attractive compared to real assets. Bitcoin is part of this discussion.” -Brian Russ.
Future Expectations for Bitcoin and Altcoins
Bitcoin has increased by approximately 5.5% in the last 24 hours, while Ethereum 
$3,284 rose by 6%. Solana 
$189 gained 8%, and XRP surged by 19%.
Analysts suggest that short-term declines may be temporary, predicting continued growth in Bitcoin and altcoin markets until mid-2025. Projections indicate that investors could see gains exceeding 300% in various cryptocurrencies over the next six months, as the predicted rise in Bitcoin price suggests the formation of a bullish altcoin market.
In conclusion, VanEck analysts and others anticipate ongoing bullish trends in the cryptocurrency markets. According to the Altcoin Index, Bitcoin may gain over 10% within a month.
