Altcoin Rally May Not Begin Until August: Crypto Analyst

A crypto market analyst is warning investors against rushing to buy altcoins, citing historical data that suggests they may still have time before the next major rally begins.

Bitcoin's recent price action has led many traders to believe the market has already bottomed out, but the analyst argues that there is still no confirmation of this.

The current market is being compared to the 2022 bear market, where Bitcoin bottomed at around $15,500 in November, while altcoins reached their lows a month later. However, what followed was a nearly 10-month period of sideways movement for altcoins before they broke higher in October 2023.

The analyst notes that during this recovery period, Bitcoin gained roughly 70% from its bear market bottom before altcoins began their strongest rally. By comparison, the overall altcoin market finished only about 12% higher over most of that accumulation period.