Investment Analyst Assesses the Current Market Trends of Altcoins

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Investment Analyst Assesses the Current Market Trends of Altcoins - NewsBTC

Quick Summary:

In an X post, Altcoin Sherpa asserted that there’s a high possibility "that altcoins are done for the next 1-4 months.” The analyst considers that, right now, most of the market needs "time to chill out and consolidate after such a big run.” Despite recently falling below the $1 trillion market capitalization, altcoins have performed remarkably in the last few months.

Sherpa considers that "now more than ever, it is super important to choose the altcoins that are going to run hard.” In 2020, the massive altseason made "everything go up consecutively.” This time, the liquidity is more fragmented, and "only a few sectors are pumping.” The AI and memes sectors have been the hottest topic in 2024, and layer-1 (L1) tokens, like SEI, have also performed well."Everything else?

Related Reading: Crypto Analyst Says Don’t Buy Altcoins Just Yet – Here’s Why Altcoins market cap sitting at $981 billion in the weekly chart.