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Home»ALTCOIN NEWS»CryptoQuant CEO Doubles Down on Altseason Prediction, Says Whale Accumulation Still Valid
ALTCOIN NEWS

CryptoQuant CEO Doubles Down on Altseason Prediction, Says Whale Accumulation Still Valid

By Crypto FlexsAugust 8, 20242 Mins Read
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CryptoQuant CEO Doubles Down on Altseason Prediction, Says Whale Accumulation Still Valid
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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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Disclaimer: The opinions expressed on The Daily Hodl are not investment advice. Investors should do their own due diligence before making any high-risk investment in Bitcoin, cryptocurrencies or digital assets. Your transfers and transactions are your responsibility and any losses you may incur are your responsibility. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets and The Daily Hodl is not an investment advisor. The Daily Hodl participates in affiliate marketing.

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