CandleFocus Altcoin season unlikely before 2025, says crypto analyst Benjamin Cowen
2024-10-31
Author: Content Editor
Crypto analyst Benjamin Cowen believes that a full-fledged altcoin season will not occur until 2025. He attributes this to the current strength of Bitcoin and the prevailing market dynamics. Cowen highlights that altcoins have been losing ground to Bitcoin, and historically, alt seasons follow a strong Bitcoin rally. He suggests that Bitcoin's dominance, recently at 60%, will keep altcoins under pressure, with many altcoin pairs reaching new lows against Bitcoin. Cowen points out that Bitcoin's price behavior aligns with its historical cyclical patterns, favoring Bitcoin over altcoins in halving years. He sees little catalyst for a sustained altcoin surge until Bitcoin experiences a significant rally. Cowen adds that Bitcoin's performance for the rest of 2024 depends on its ability to hold above $70,000.
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