CryptoQuant’s chief executive Ki Young Ju believes altcoins can still shine in spite of the macro-economic headwinds.
Young Ju, a young man from the United States of America (U.S.A.), predicted last week that altseason will begin late in 2024 or in early 2025.
The CEO of the analytics company reiterated that his predictions for altcoins were not based on macro-environment. This was in the aftermath of the crypto and stock price plunges over the weekend, and Monday.
It’s not clear whether Bitcoin has entered a bear market on a longer-term basis. If BTC remains above $45,000, the market may recover anytime.
No one is unaware of the current unfavorable macroeconomic environment. I’m no different. My altseason forecast was not based on macro-liquidity, but on strong buy walls in secondary markets from whales. Whale accumulation is valid whether they are defending themselves against price drops, or anticipating a altseason. .”
Young Ju notes as well that “only a handful of altcoins may stand out” in the event an economic recession occurs.
I’ll continue to monitor altcoins with whale and smart money accumulation, regardless of the macro situation.” I will continue to watch altcoins that have whale or smart money accumulation regardless of macroeconomic conditions .”
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