The cryptocurrency market has seen a resurgence, with Bitcoin’s price surpassing the $60k mark once again. As a result, BTC’s dominance has risen to 56.6% as of September 15.
Meanwhile, the altcoin market cap has reached a low point, reminiscent of its levels from May 2023. This could signal the beginning of a potential Altcoin season, based on historical market trends.
Investors are currently pondering questions like “Have altcoins hit rock bottom?” and “When will AltSeason begin?” Our team at CoinPedia has conducted thorough research on the current market conditions and summarized our findings below!
Factors Influencing The AltSeason:
Aside from Ethereum’s price surpassing significant resistance levels, several factors have a substantial impact on the cryptocurrency market. Here are a few key factors:
- Increased Liquidity: China has injected massive liquidity into the market in response to a potential recession, with Chinese users showing a growing interest in cryptocurrencies.
- U.S. Presidential Election: A favorable outcome for the crypto market in the election could serve as a catalyst for the upcoming Bull Run.
- Federal Reserve Rate: The FED’s rate cuts could lead to a notable increase in crypto adoption.
- Token 2049: This global conference series has the potential to spark innovation and foster connections that shape the industry’s future. The event is held annually in Dubai and Singapore.
Additionally, the upcoming Eigen Layer TGE on September 17 is poised to introduce a new standard of ETH re-staking to the Ethereum ecosystem.
Top Altcoins to Accumulate for the Upcoming Altcoin Rally
Arbitrum (ARB)
Arbitrum’s price is showing strong growth on its chart. If it maintains its momentum, a breakout rally could be on the horizon. A potential dip to around $0.50 could present a buying opportunity for short-term gains.
Aave (AAVE)
Having surged over 75% in the past month, Aave has outperformed many leading cryptocurrencies. While a temporary dip may occur, AAVE is expected to retest its high above $200, making it a promising long-term investment.
For more insights, check out the AAVE Price Prediction 2024 – 2030
Compound (COMP)
Known for its DeFi lending protocol on the Ethereum network, Compound allows users to earn interest. If ETH performs well, Compound’s price could see significant growth, potentially reaching a new All-time High (ATH).
Rocket Pool (RPL)
Rocket Pool’s token has experienced a bullish recovery, surging over 50% in a matter of days. Despite a brief setback, this ETH-based altcoin has the potential to reach a new ATH, making it a promising asset for the upcoming bull market.
Optimism (OP)
Optimism’s price has seen a surge in the crypto market due to new partnerships. With strong fundamentals and monthly gains exceeding 40%, this altcoin could experience significant growth during the upcoming crypto bull run.
Explore more insights with the Optimism Price Prediction 2024 – 2030
