CryptoQuant chief govt Ki Younger Ju nonetheless thinks altcoins might shine regardless of the tough macro headwinds.
Final week, Younger Ju predicted that altseason would start in late 2024 or early 2025.
Within the wake of plunging crypto and inventory costs over the weekend and on Monday, the analytics agency CEO reiterated this week that his prediction for altcoins wasn’t based mostly on the macro setting.
“It’s nonetheless unsure whether or not Bitcoin is in a long-term bear market. If BTC stays above the $45,000 stage, I imagine the market might recuperate at any time.
Everyone seems to be conscious of the unfavorable macro setting, and I’m no exception. Nonetheless, my altseason prediction wasn’t based mostly on world macro liquidity however somewhat on observing sturdy purchase partitions from whales in secondary markets. Whether or not they’re defending in opposition to worth drops or anticipating an altseason, whale accumulation stays legitimate.”
Younger Ju additionally notes that “only some altcoins would possibly stand out” if the economic system dips right into a recession.
“Whereas asset costs might drop as a result of macroeconomic crises, these with sturdy purchase partitions that set up a secure worth assist base might see vital upside potential after the disaster. I’ll proceed to observe altcoins with whale and good cash accumulation, whatever the macro state of affairs.”
Do not Miss a Beat – Subscribe to get electronic mail alerts delivered on to your inbox
Examine Worth Motion
Observe us on X, Fb and Telegram
Surf The Every day Hodl Combine
 
Disclaimer: Opinions expressed at The Every day Hodl will not be funding recommendation. Buyers ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital belongings. Please be suggested that your transfers and trades are at your personal danger, and any losses you might incur are your accountability. The Every day Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Every day Hodl an funding advisor. Please notice that The Every day Hodl participates in affiliate marketing online.
Generated Picture: Midjourney
