The post Altcoins Gain Momentum as Bitcoin Approaches All-Time High, Says Glassnode Co-Founders appeared on BitcoinEthereumNews.com.

Altcoins Gain Momentum as Bitcoin Approaches All-Time High, Says Glassnode Co-Founders As Bitcoin nears its all-time high, altcoins are gaining significant momentum, signaling the potential onset of an Altcoin Season, according to Glassnode co-founders Jan Happel and Yann Allemann. Sharing their insights on X (formerly Twitter) under the joint account Negentropic, the co-founders noted that altcoins are riding the bullish momentum of Bitcoin, with a surge in altcoin activity anticipated once Bitcoin surpasses its previous all-time high and ventures into new price territory. The rising interest in altcoins as Bitcoin gains strength underscores the increasing market optimism surrounding cryptocurrencies, with investors looking for the next wave of opportunities in the altcoin market. Bitcoin’s Surge Drives Altcoin Momentum As Bitcoin continues its upward trajectory, approaching its all-time high, the altcoin market is experiencing a corresponding boost in activity. Jan Happel and Yann Allemann from Glassnode suggest that Bitcoin’s bullish momentum is creating favorable conditions for altcoins to thrive, setting the stage for a potential Altcoin Season. Altcoins, which typically follow Bitcoin’s lead in the market, have historically gained significant traction when Bitcoin reaches new highs. According to Negentropic, the anticipated surge in altcoin activity could occur once Bitcoin surpasses its previous high, potentially driving altcoin prices to new levels. Upcoming Altcoin Season Expected The concept of an Altcoin Season refers to a period when altcoins outperform Bitcoin, often fueled by investor excitement and the broader market’s bullish sentiment. As Bitcoin approaches its all-time high, many altcoins are likely to see increased trading volume and price appreciation, benefiting from the positive market environment. With Bitcoin nearing its all-time high, the Glassnode co-founders expect that altcoins will continue to ride this wave of momentum, with a notable uptick in activity expected in the near future. Market Optimism and Investor Sentiment The overall crypto…

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Filed under: News - @ September 24, 2024 8:23 am