Altcoin Rally Predictions: When Will Altcoins Gain Momentum?
The crypto markets started the week on a positive note, with Bitcoin trading above $94,000. Bitcoin is gaining recognition as a safe asset, comparable to gold or the US dollar. Bitcoin’s transition from a speculative investment to a reliable store of value is reinforced by NYDIG Research, especially after the introduction of US trade tariffs.
XRP Leads Major Altcoin Gains
Among altcoins, XRP experienced significant gains, rising nearly 8%. This surge was driven by the approval of a ProShares ETF, which will launch three futures-tracked products on April 30. Cardano’s ADA also gained over 3%, while BNB Chain’s BNB saw a modest 1% increase. Ether remained neutral, while Solana and SUI made gains of over 1% and 4% respectively.
However, the biggest surprise came from Monero (XMR), which experienced an unexpected surge of over 40% and reached a price of $371. Currently, it is trading at $268, showing a 17% increase in the last 24 hours.
Analysts Share Predictions on Altcoin Rally Timing
In a recent blog post, Arthur Hayes predicts that altcoins will start gaining momentum once Bitcoin surpasses its previous all-time high of $110,000. He believes that if Bitcoin continues to surge, it could potentially reach $200,000. However, he cautions that not all altcoins will perform well during this potential altcoin season.
Analyst Moustache believes that the altcoin rally is yet to come and expects to see many positive market trends moving forward. Crypto Rover highlights that altcoins are breaking out of a 140-day downtrend, indicating the potential for a significant utility season ahead.
Analyst Wimar.X predicts that the biggest altcoin season in history is about to begin. He points to the formation of a triple-bottom pattern in altcoins, suggesting a potential parabolic rally. He even expects the total altcoin market cap to reach $15 trillion during this cycle, although such predictions come with inherent risks due to the volatile nature of crypto markets.
Altcoin Index Stands at 18
Currently, Bitcoin dominates the market with a 63.4% share. Altcoins, on the other hand, are struggling, accounting for only 18% of the total market strength, as per CoinMarketCap’s Altcoin Index. This indicates that Bitcoin continues to lead the market, and an altcoin rally may still be some time away.
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