Bitcoin dominance grows! Top Altcoins Headed for Next AltSeason Growth!
The crypto market has successfully recovered, Bitcoin price has regained the $60k mark. As a result, BTC dominance increased to 56.6% on September 15.
However, the market value of altcoins has hit a low as it is testing the May 2023 low. Considering the historical market trend, it is believed that this may be the beginning of the Altcoin season.
Assessing the current market trend, investors are asking questions such as “have altcoins bottomed out?” They are curious about such questions. and “When does AltSeason start?” Our panel of experts at CoinPedia has done in-depth research on current market trends and reported their findings below!
Factors affecting AltSeason:
In addition to the price of Ethereum breaking out of its major resistance, there are several factors that have a significant impact on the crypto market. Here are some of them:
Increasing Liquidity: In the past few months, China has increased liquidity in the midst of a severe recession. In addition, Chinese users are rapidly increasing their participation. US Presidential Election: If the election results favor the crypto market, this could act as a catalyst for the upcoming bull run. Federal Reserve Rate: Increasing rate cuts by the FED will result in a significant increase in crypto adoption. Token 2049: A global conference series to foster new ideas and connect networks to shape the future of the industry. The event is held annually in Dubai and Singapore.
Additionally, with the upcoming Eigen Layer TGE on September 17th, the Ethereum ecosystem is set to experience a whole new level of ETH restocking.
The best Altcoins to stack for the upcoming Altcoin Rally
Arbitration (ARB)
ARB price is making strong progress on the chart. With adoption and bullish action, if the price holds its momentum, it may register a resistance rally. However, a drop close to $0.50 could be a short-term profit-buying opportunity.
AAVE
Adding more than 75% in 30 days, this altcoin has outperformed all top cryptocurrencies. While it may face a short-term dip, AAVE price is set to retest the high above $200, making it a must-buy for the long-term view.
Also read, AAVE Price Forecast 2024 – 2030
COMP
This Ethereum-based project is widely known for its DeFi lending protocol, keeping its users interested. If the ETH token performs well, its compound price may witness a significant growth. This could further lead to a new all-time high (ATH).
Rocket Pool (RPL)
In a severe recovery, the RPL token increased by more than 50% within days. Despite the short-term decline, this ETH-based altcoin has the potential to register a new ATH, making it a 10X token for the upcoming bull market.
Optimism (OP)
Along with new partnerships, the price of Optimism has taken the crypto market by storm. With strong fundamentals and more than 40% monthly gains, this altcoin has the potential to increase manifold during the upcoming crypto bull run.
Also read the optimistic price forecast 2024 – 2030
