The crypto market has successfully regained momentum, with the Bitcoin price reclaiming the $60k mark. With this, the dominance of BTC has increased to 56.6% on September 15.
However, the altcoins market cap has also entered the bottoming phase, as it is retesting its May 2023 low. Considering the historic market trend, this is speculated to be the beginning of a potential Altcoin season.
By evaluating the current market trends, investors are curious with questions like “Have altcoins bottomed out?” and “When will AltSeason start?”. Our expert panel at CoinPedia has done in-depth research about the current market trends and documented the findings below!
Factors Affecting The AltSeason:
Apart from the Ethereum price breaking out of its major resistance, there are a number of factors that influence the crypto market massively. Here are a few:
Increasing Liquidity: Over the past few months, China has increased its liquidity on a huge scale amid a potential recession. Further, Chinese users are increasing their involvement rapidly.U.S. Presidential Election: If the election result comes in favor of the crypto market, this could act as a catalyst for the upcoming Bull Run.Federal Reserve Rate: The increasing rate cuts by the FED can result in a significant rise in the crypto adoption process.Token 2049: The global conference series could boost new ideas and connect networks to reshape the future of the industry. The event takes place annually in Dubai and Singapore.
Further, with the upcoming Eigen Layer TGE on 17th September, the Ethereum ecosystem is set to experience a whole new standard of ETH re-staking.
Top Altcoins To Stack For The Upcoming Altcoin Rally
Arbitrum (ARB)
The ARB price is recording a strong growth in its chart. With increased adoption and a bullish action, the price could record a break-out rally if it holds its momentum. However, a drop of around $0.50 could turn out to be a buying opportunity for short-term gains.
Aave (AAVE)
By adding over 75% within 30 days, this altcoin has outperformed all top cryptocurrencies. While it may experience a short-term dip, the AAVE price is projected to retest its high of over $200, making it a must-buy token for the long-term perspective.
Also read, AAVE Price Prediction 2024 – 2030
Compound (COMP)
This Ethereum-based project is widely known for its DeFi lending protocol by allows its users to be interested. If the ETH token performs well, the Compound price may witness significant growth. This could further lead it toward its new All-time High (ATH).
Rocket Pool (RPL)
With a bullish recovery, the RPL token has surged over 50% within days. Despite recording a short-term setback, this ETH-based altcoin has the potential to record a new ATH, making this a potential 10X token for the coming bull market.
Optimism (OP)
With newer partnerships, the Optimism price has taken the crypto market by storm. With strong fundamentals and monthly gains of over 40%, this altcoin holds the potential to experience a multi-fold surge during the upcoming crypto bull run.
Also read, Optimism Price Prediction 2024 – 2030
