Analyst Expects Another Parabolic Phase for Crypto, Strong Altseason Pump Still in Play

Popular crypto analyst expects another parabolic phase for crypto

He expects the prices of BTC and ETH to rally and hit higher highs

This expectation is based on multiple bullish factors that could trigger altseason.

With the price of ETH trading back above the $4,000 price range, sentiments for a new ATH price for Ethereum grow stronger. If the pioneer crypto asset could pump and hold above a new ATH price, then bullish expectations for altseason won’t be far. At the moment, one analyst expects another parabolic phase for crypto and predicts a strong altseason pump to follow in the weeks ahead.

Analyst Expects Another Parabolic Phase for Crypto

Over the past 24 hours, the price of the pioneer altcoin, Ethereum (ETH), has pumped over 6%, surging from the $3,900 price range to the $4,200 price range. According to CpinMarketCap analytics, ETH is boasting a total market cap of $510,387,498,994.35 and a 24-hour trading volume of $33,804,821,653.59. Furthermore, historical data shows that ETH needs a pump of over 15% to reach its previous ATH set in the $4,900 price range.

Presently, traders and analysts are in a heated debate between expecting bearish vs bullish moves. Bearish analysts believe the 4-year bull cycle is concluding, meaning what’s next is the bear market to play out, a move expected to push the price of BTC to the $60,000 price range. In contrast, bullish analysts state that a bear market cannot begin without a bull cycle, meaning the end of Q4 could still new ATHs for altcoins.

As we can see from the post above, this reputed crypto analyst shares an interesting observation, which is that the crypto market seems to be filtering the panic sellers before the next parabolic phase can begin. This similar pattern took place in the 2017 and 2021 altseason phases. Based on the chart accompanying the post, the Bull trend is still intact, and a parabolic pump may play out in the next 4-6 months due to a number of bullish factors.

These bullish factors include M2 money supply exploding, the FED ending QT and potentially beginning quantitative easing (QE), 3-4 rate cuts in the next 6 months, US stocks hitting new highs, gold hitting $30 trillion, the US government passing many crypto-friendly regulations, over 155 altcoin ETFs filings getting ready for mass approvals, and much more. The analyst concludes his post by encouraging traders to look at data and not sentiment.

Strong Altseason Pump Still in Play

Based on the responses to the post, many seem to disagree with these expectations. Not in terms that deny a recovery and altseason, but more on the front that these factors are wishful thinking rather than statistical data. Indeed, the chances for recovery are strong, but it is in no way guaranteed, and traders should always proceed with caution and ensure to hedge bets and manage risks no matter the situation