Veteran trader Peter Brandt says both Ethereum and XRP appear to be forming a bottom against the leading cryptocurrency Bitcoin.
Brandt recently spotted a similar pattern for XRP, and joins a number of crypto analysts who believe a significant altcoin rally may be on the horizon.
Nicholas Merten, the host of the popular YouTube channel DataDash, says Bitcoin’s slowly declining dominance is a sign of a potential trend reversal.
And analyst Scott Melker of Texas West Capital says that in his humble opinion, alt season has already arrived.
“The way people here think, they will START calling alt season only if coins do a 5-10x. By the time they accept it is happening they’ll be buying the top, just like they did in 2017.”
But not everyone on crypto Twitter is so optimistic.
The host of CNBC’s Crypto Trader Ran NeuNer says the days of quick and easy 100x profits in the crypto markets are a thing of the past.
In a viral tweet, NeuNer says he thinks the vast majority of altcoins will essentially go belly up in the long run, and real-world adoption has become more important than promises of breakthrough technology.