CryptoQuant CEO Ki Young Ju still believes altcoins could shine despite challenging macroeconomic headwinds.
Last week, Young Ju predicted that the alternate season would begin in late 2024 or early 2025.
Following the fall in cryptocurrency and stock prices over the weekend and on Monday, the CEO of the analytics firm reiterated this week that his prediction for altcoins was not based on the macroeconomic environment.
“It is not yet certain that Bitcoin is in a long-term bear market. If BTC stays above the $45,000 level, I believe the market could rally at any time.
Everyone is aware of the unfavorable macroeconomic environment, and I am no exception. However, my prediction of the altcoin season was not based on global macroeconomic liquidity, but rather on observing strong buying walls from whales in secondary markets. Whether they are defending against price declines or anticipating an altcoin season, the whales’ accumulation remains valid.
Young Ju also notes that “only a few altcoins might stand out” if the economy falls into recession.
“While asset prices can fall due to macroeconomic crises, those with strong buy walls establishing a stable base of price support could see significant upside potential post-crisis. I will continue to monitor altcoins with whale and smart money accumulation regardless of the macroeconomic situation.”
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