Bitcoin is still uncertain after hitting a recent low of $64,300. Yet, a well-known cryptocurrency expert has shared his predictions. Let's delve into the latest insights of market professionals regarding the potential rise of altcoins in the upcoming market season.

Altcoin season refers to periods when cryptocurrencies other than Bitcoin show significant growth. Noted cryptocurrency commentator Moustache has analyzed the total value graph of cryptocurrencies in the latest market assessment. He suggests that TOTAL2 has completed the corrective stages of the Wyckoff Method and anticipates an imminent breakout.

The same analyst previously indicated that TOTAL2 had broken out of a descending wedge on the monthly chart, hinting at a potential rally resembling that of the 2020-2021 market cycle. These forecasts collectively hint at a promising future for altcoins.

Lark Davis on Altcoins

Another expert, Lark Davis, highlights that the altcoin market's value has regained support from the 50-day exponential moving average when observing TOTAL2. Despite a possible brief dip below this mark, the MACD supports the expectation of an upward movement.

"With the MACD crossover occurring, we might be on the verge of something significant."

Daan Crypto Trades

However, a third analyst, Daan Crypto Trades, takes a more cautious stance. Describing the sentiment towards altcoins as "quite low," he notes that investors are showing signs of pessimism. The altcoin season index by the Blockchain Center does not currently reflect a strong positive divergence in assets other than Bitcoin.

During a genuine altcoin season, the top 50 cryptocurrencies should outperform Bitcoin for 90 consecutive days. Presently, if Bitcoin drops by 1%, major altcoins drop by 1.5%, indicating conditions that do not align with a classic altcoin season.

BTC's price remains under the safety margin of $69,000. Investors are concerned about the potential sharp decline to $51,000 in Bitcoin's price, which could result in significant losses without allowing altcoins to recover.