CryptoQuant chief govt Ki Younger Ju nonetheless thinks altcoins may shine regardless of the troublesome macro headwinds.
Final week, Younger Ju predicted that altseason would start in late 2024 or early 2025.
Within the wake of plunging crypto and inventory costs over the weekend and on Monday, the analytics agency CEO reiterated this week that his prediction for altcoins wasn’t primarily based on the macro surroundings.
“It’s nonetheless unsure whether or not Bitcoin is in a long-term bear market. If BTC stays above the $45,000 stage, I consider the market may get well at any time.
Everyone seems to be conscious of the unfavorable macro surroundings, and I’m no exception. Nonetheless, my altseason prediction wasn’t primarily based on international macro liquidity however slightly on observing sturdy purchase partitions from whales in secondary markets. Whether or not they’re defending towards value drops or anticipating an altseason, whale accumulation stays legitimate.”
Younger Ju additionally notes that “only some altcoins would possibly stand out” if the financial system dips right into a recession.
“Whereas asset costs might drop as a result of macroeconomic crises, these with sturdy purchase partitions that set up a secure value help base may see vital upside potential after the disaster. I’ll proceed to watch altcoins with whale and good cash accumulation, whatever the macro state of affairs.”
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