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According to crypto analyst TechDev, the cryptocurrency market may be on the brink of a significant altcoin season. Based on historical data, TechDev points to rare signals seen only twice in the past eight years, suggesting that the altcoin market is poised for substantial gains. This prediction relies on Bitcoin’s cyclical behavior and the broader market dynamics that have historically triggered altcoin rallies.
Bitcoin Cycles and Altcoin Booms
TechDev’s analysis highlights patterns from 2017 and 2021, where Bitcoin (BTC) reached all-time highs (ATH) and triggered six-month bullish candles. These periods were marked by explosive growth in the altcoin market, with many investors seeing long-awaited returns.
“This six-month candle has historically been the period where altcoins make their biggest moves,” said TechDev. The analyst also underscores the importance of Bitcoin Dominance (BTC.D), a metric that tracks Bitcoin’s share of the total crypto market capitalization. Historically, altcoin seasons have followed a sharp decline in Bitcoin dominance, occurring roughly 1,280 days after Bitcoin’s previous peak.
The Role of Bollinger Bands
Another key element in TechDev’s analysis is the use of Bollinger Bands, a tool that measures market volatility. TechDev notes that altcoin rallies often align with Bitcoin’s weekly chart reaching the upper Bollinger Band range.
“When Bitcoin hits this expansion line, altcoins typically embark on a six-month steep ascent,” TechDev explained. This signal aligns with historical data, where altcoin markets have followed Bitcoin’s lead during periods of high market volatility.
TOTAL2 Chart and Altcoin Market Value
TechDev’s focus also includes the TOTAL2 chart, which tracks the market cap of all cryptocurrencies excluding Bitcoin and stablecoins. According to the analyst, this chart has shown patterns of significant growth before major altcoin seasons. If history repeats itself, TOTAL2 could experience a sharp rise in the coming months, signaling the start of a widespread altcoin rally.
What’s Next for Altcoins?
While it remains uncertain whether history will repeat itself, the signs highlighted by TechDev suggest a promising outlook for altcoins. Investors should monitor key indicators such as BTC dominance, Bollinger Bands, and the TOTAL2 chart to identify potential opportunities. As always, Turkish NY Radio will continue to provide timely updates and in-depth analysis on the evolving crypto market.
