Altcoins like Ethereum, Cardano, Solana, and the rest might be lower at spot rates. However, according to one analyst who sees a parallel in the current formation to the 2020 market cycle, they are gearing up for a potential surge. In a post on X, the analyst says that often, after a period of accumulation and a retest of previous highs, altcoins tend to be volatile. The crypto analyst also notes that Bitcoin has pulled back from its all-time highs and is preparing for a possible retest of this level registered in March. Though altcoins have been decimated, looking at price action in the past 24 hours, altcoins are on a bullish path, similar to the last cycle registered in 2020. The analyst says Bitcoin will catalyze the altcoin swing to fresh levels and valuations. Will Altcoins Repeat The 2020 Cycle? For now, it is hard to predict the exact valuation of top altcoins. However, the analyst notes a similar formation in the current price action. Related Reading: Bitcoin Final Dance: Analyst Eyes Final Peak Ahead Of Halving When alt ..
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