Master Name: Altcoins Will Hit The Bottom On This Date!

Usta İsim: Bu Tarihte Altcoinler Dibi Görecek!
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Rekt Capital is known for his ability to spot recurring patterns in how altcoins move in each market cycle. With more than 450,000 followers on platforms like X, he shares his findings on altcoins and the typical waves they experience.

In a recent post, Rekt Capital said altcoins tend to bottom roughly every three months. He explains his view that the last trough occurred in early February. Analyzing data from past cycles, Rekt Capital thinks that prices could bottom in late May/early June. However, he sees this as just the last jolt before the next leg of the bull trend begins.

Understanding the tides in altcoins and Bitcoin

Rekt Capital aims to be in the natural rhythm of the altcoin markets by analyzing on-chain metrics. He notes that they usually sell during the Bitcoin Halving, as they did last month. However, he emphasizes that this is a short-term reaction within a broader bull cycle.

Looking at previous bull runs, Rekt Capital expects Bitcoin to consolidate between $60,000-70,000 for the next six-eight weeks as it tries to find a new floor of support post-Halving. This bodes well for altcoins to stabilize alongside BTC. It sets the stage for the next uptrend from the quarterly cycle in July.

Master Name: Altcoins Will Hit The Bottom On This Date!

Summer promises to offer attractive entry points for altcoins

If history repeats itself, Rekt Capital advises that summer will offer attractive entry points for altcoins. Rekt Capital also warned investors against getting caught up in short-term volatility. Instead, they should focus on longer time frames and key support levels for altcoins.

Investors can keep their perspective on natural market phases, believing that the current decline is a necessary pause before the next upward momentum in altcoins. Rekt Capital has a reputation for success in identifying the right market turning points in the past. Many members of the crypto community are eagerly waiting to see if his latest prediction will come true. Only time will tell. However, Rekt Capital’s analysis offers a glimpse of what might happen in the future.

Whales carry billions of dollars worth of altcoins

XRP rallied over 5% to regain the $0.50 price level. However, accompanying the altcoin’s recovery were XRP transfers to Bitvavo, Bithumb and Bitstamp totaling 452,869,591 XRP or $232 million.

The earliest movement saw Bitstamp receive 22 million XRP ($10.8 million) from an anonymous source. Even more striking was a massive transfer of 390 million XRP to Bithumb worth $201 million. Within an hour, Bitvavo received two payments of 20 million XRP totaling over $40 million.

Master Name: Altcoins Will Hit The Bottom On This Date!

Exchanges received record altcoin inflows

The timing and magnitude of altcoin inflows to exchanges has led some to speculate that we could see XRP selling pressure. One user in particular pointed out that with assets of this size, unknown wallet holders may be looking to liquidate their tokens.

The original sources of these altcoin transfers give little clue as to the assets behind the transactions. The transfer on Bithumb specifically originated from the exchange. It also pointed to an internal transfer. In addition, the wallets for Bitstamp and Bitvavo remain anonymous.

The large XRP transfers underscore the uncertainty still surrounding the altcoin markets. As a bellwether altcoin, XRP price action can provide signals regarding broader market direction. For now, exchanges are braced for potential sell-side pressure from these massive altcoin inflows of unknown origin.

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Master Name: Altcoins Will Hit The Bottom On This Date!