Upbit Making stops accumulating BTC: Altseason about to start?

[Mr. Magkaisa]

         -   It is undeniable that in the past 2 weeks, when the price of Bitcoin started to rise in the market, the altcoins obeyed and their prices also rose in the market,
and most of them are meme coins that are under the Solana network.

But that does not mean that this confirmation is altcoins season; we will know if the Ethereum spot ETHF is approved on May 23, 2024, and it is possible to say that it is altcoins season, but this time, in my opinion, not yet.

[MrSpasybo]

         -   It is undeniable that in the past 2 weeks, when the price of Bitcoin started to rise in the market, the altcoins obeyed and their prices also rose in the market,
and most of them are meme coins that are under the Solana network.

But that does not mean that this confirmation is altcoins season; we will know if the Ethereum spot ETHF is approved on May 23, 2024, and it is possible to say that it is altcoins season, but this time, in my opinion, not yet.

Yeah, this is just speculation based on onchain data related to Upbit's address. Currently, we are seeing BTC and many ALTS adjusting together and there is no clear trend yet. I hope that in the near future, when BTC goes sideways, the money flow will be directed by whales to ALTS and push them to new ATHs.

In the worst case, if BTC drops sharply, we will see ALTS also drop and drop more than BTC. We will have a period of re-accumulation in the next few months before the market enters a bull run at the end of the year. I am really looking forward to this event more because we will have a longer altseason, bringing excitement to the market and huge profits for investors.