CryptoQuant chief govt Ki Younger Ju nonetheless thinks altcoins might shine regardless of the troublesome macro headwinds.
Final week, Younger Ju predicted that altseason would start in late 2024 or early 2025.
Within the wake of plunging crypto and inventory costs over the weekend and on Monday, the analytics agency CEO reiterated this week that his prediction for altcoins wasn’t based mostly on the macro surroundings.
“It’s nonetheless unsure whether or not Bitcoin is in a long-term bear market. If BTC stays above the $45,000 stage, I consider the market might get better at any time.
Everyone seems to be conscious of the unfavorable macro surroundings, and I’m no exception. Nonetheless, my altseason prediction wasn’t based mostly on international macro liquidity however quite on observing sturdy purchase partitions from whales in secondary markets. Whether or not they’re defending towards worth drops or anticipating an altseason, whale accumulation stays legitimate.”
Younger Ju additionally notes that “only some altcoins would possibly stand out” if the financial system dips right into a recession.
“Whereas asset costs could drop on account of macroeconomic crises, these with sturdy purchase partitions that set up a secure worth assist base might see important upside potential after the disaster. I’ll proceed to watch altcoins with whale and sensible cash accumulation, whatever the macro scenario.”
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