Get Ready For The Crypto Community, Altseason Is Predicted To Start Soon!

The altcoin season is said to be starting. (Photo; Doc. Builtin)

JAKARTA - Ki Young Ju, CEO of the leading crypto analytics company CryptoQuant, expressed his positive views on altcoins, alternative crypto assets besides bitcoin. Although the crypto market is under the shadow of an unfavorable macroeconomic, Ki Young Ju remains optimistic that it will enter the altcoin aka altseason season, where a number of crypto asset prices other than BTC have experienced a surge.

Last week, Ki Young Ju predicted that the 'altseason' period in which altcoins experienced a significant price increase would start at the end of 2024 or early 2025. Although crypto prices and stocks fell last weekend and on Monday, the CEO reiterated his prediction that the potential for altcoins does not depend on global macroeconomic conditions.

"It is still uncertain whether Bitcoin is in the long-term bear market. If BTC remains above the level of $45,000, I believe the market can recover at any time. Everyone is aware of the unfavorable macroeconomic condition, and I am no exception," said Ki Young Ju.

"However, my prediction of altseasons is not based on global macro liquidity, but rather on the observation of strong buying walls from whales in the secondary market. Whether they survive the price decline or anticipate the altSEASON, whale accumulation remains valid," he added, quoted by DailyHodl.

Not only that, Ki Young Ju also emphasized that only a few altcoins might stand out if the economy enters a recession. "Although asset prices may fall due to the macroeconomic crisis, those with strong buying walls that build on the basis of stable price support can see a significant potential increase after the crisis. I will continue to monitor altcoins with the accumulation of whales and smart money, regardless of the macro situation," said CryptoQuant CEO.

This is evidenced by several altcoins such as Ethereum (ETH), Solana (SOL), and Binance Coin (BNB) that have been bought up by large or whale investors. This shows a strong accumulation pattern of crypto players with large amounts of assets. Ethereum, for example, has shown an increase in trading volume on the main exchange, with many large transactions showing significant accumulation.

Data from Santiment, blockchain analytic platform, shows that Ethereum whales have added more than 3 million ETH to their portfolio over the past three months, signaling long-term confidence in the altcoin. It is also supported by increased activity on the Ethereum network, including the adoption of layer 2 technology which helps reduce transaction costs and improves efficiency.