CryptoQuant CEO Ki Young-joo still believes altcoins can shine despite challenging macroeconomic headwinds.
Last week, Youngju predicted that alt season would begin in late 2024 or early 2025.
After a weekend and Monday where crypto and stock prices plunged, the analytics firm CEO reiterated this week that his predictions for altcoins were not based on the macroeconomic environment.
“It is still unclear whether Bitcoin is in a long-term bear market. If BTC stays above the $45,000 level, I think the market could recover at any time.
Everyone knows the macro environment is unfavorable, and I am no exception. However, my altseason prediction is not based on global macro liquidity, but on observing strong buying barriers from whales in the secondary market. Whether it is a defense against price declines or an anticipation of altseason, whale accumulation is still valid.”
The resident also said that if the economy goes into a recession, “only a few altcoins will stand out.”
“While a macroeconomic crisis can cause asset prices to fall, assets with strong buy barriers that build a stable price support base can see significant upside potential post-crisis. Regardless of the macroeconomic situation, we will continue to monitor alternative coins as whales and smart money accumulate.”
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