The co-founders of Market Intelligence Platform Glassnode identify two catalysts who must stand in line for Altcoin season to officially start.
In a new one wire On the social media platform XX, Glassnode and Swissblock co-founders Jan Happel and Yann Alleman-Die Together the handle nine-tropic sharing saying that the Altcoin season could begin when the Bitcoin dominant And his price stabilizes above $ 100,000.
“Flashback until February 2021. In the last cycle, February started the Altcoin season. Could it happen again? Two key factors must coordinate: 1) Bitcoin -Dominance must decrease. 2) Bitcoin must have a stable price above $ 100,000. The scenario seems to be taking it – will history repeat itself? “
However, the duo continues remark That the best crypto -active has delayed the Altcoin season due to the recent increase in dominance and price of Market Cap.
“Dominance: 58%+. Price: Holding strong above $ 100,000. Fundamental news has provisionally delayed this bitcoin-oriented market and an Altcoin season. Altcoins? We will have to wait a little longer … but the instructions will start to appear. “
Earlier this week Happel and Alleman said that BTC seems ready to break out on the basis of the Bitcoin Fundamental Index (BFI), which evaluates various aspects of the Bitcoin market, including wallet and transaction volume.
At that time they predicted that the Crypto king was on its way to a price tag of $ 110,000, but first to meet the resistance around $ 106,000.
Bitcoin acts for $ 106,419 at the time of writing, a marginal increase during the last 24 hours.
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