Why Ether, XRP, Solana, Cardano, Shiba Inu Are Primed For $1 Trillion 'Bull Shock' In Current Market Cycle

Expectations for Bitcoin and the broader altcoin market are largely bullish from market players, as Q2 has historically been bullish for most cryptocurrencies.

Market sentiments for Bitcoin are mixed; however, key players for altcoins are largely positive. Fueling bullish expectations, one analyst outlines the possibilities for the assets in the near term.

According to the analyst, altcoins will experience one last rally during this market cycle. Jamie Coutts, the chief crypto analyst at Real Vision, tells Raoul Pal that “..there will be one more breadth thrust from altcoins.” 

While Coutts’ outlook for the altcoin market is bullish, he maintains uncertainty over the sustainability of the rally. “The question is, is it a sustained rally that we will see for six to twelve months?”

Coutts remarked that the driving force behind the prices of altcoins can be attributed to top-rated altcoin tokens with notable activity returns.

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“At this stage, I am not too sure, but I do believe that quality altcoins where activity returns, activity drives prices …we will definitely see a recovery in some of these more high-quality names.” He asserted.

Like the analyst, other prominent market participants have observed indicators suggesting that altcoin season, a time when altcoins collectively rake in massive gains, is underway.

Pseudonymous analyst Rekt Capital stated that the highly anticipated altcoin season hinges on Bitcoin’s dominance rejecting prices at $72,000.

The global cryptocurrency market dropped by 4.84% over the last 24 hours. As a result, at report time, Bitcoin and altcoins are still struggling to stay afloat, with losses from previous months yet to be cleared.