Analyst Believes That The Altcoin Market Could Breakout And Boost The Entire Market

Altcoins still remains one of the more niche parts of the crypto market, but an analyst believes that it could have a major breakthrough soon. With over 180,000 followers on Twitter, the analyst has accumulated quite a following over his career.

While most investors look at analysts with an air of caution, the eh Altcoin Sherpa has yet to make any outlandish claims. And given the current situation of the crypto market, many investors are currently looking for a win to recoup their losses.

Major predictions from Altcoin Sherpa

Although most people are careful before trusting an analyst, given they can shift entire markets with a single tweet, the Altcoin Sherpa has very much earned his name and reputation. But even with his reputation in mind, it can feel like the claim that they are making is a stretch.

According to their personal sources, Bitcoin will be responsible for bringing the market to new lows. With investors still feeling unconfident in the crypto market, it is very likely that many of them will pull out of Bitcoin simultaneously. This could bring the prices and total market cap to record lows.

However, they also believe that one of the bigger altcoins will be able to bring in an altcoin season. And through further information that he shared over various tweets, it was clear they had the data to back up what they were saying.

Charts and Statistical Data

Over a series of tweets, the analyst shared multiple charts of different altcoins that could bring about the mini season. These included Polkadot (DOT), Chainlink (LINK), Fantom (FTM), and Avalanche (AVAX).

A similar trend that all of these altcoins share is that they are accumulating. Therefore, it is even possible for all of these tokens could combine to create that mini season.

XRP could lead the charge for altcoins

Along with claiming that there will be a mini season of sorts for altcoins, the Altcoin Sherpa would also go on to claim that XRP could be the main coin that is responsible for rallying the altcoins.

This prediction can be a little difficult to swallow for some investors, as XRP is still in court against the SEC. While the verdict for proceedings has yet to surface, investors are generally less confident about getting into XRP specifically because it may have to shut down.

However, if the proceedings go well and XRP does manage to win, then it could bring in a surge of investors. This could be the adrenaline shot that both the altcoins and the market, in general, need to enjoy the mini season.

And with Bitcoin currently sitting at a low price of 19,000+, it is very likely that XRP will be leading the charge.