Bitcoin and Altcoin Markets Poised to Break Out From Historical Cycles, Analyst Says

As the new week begins, analysts are closely watching the Bitcoin price chart and the altcoin charts. Recently, the market saw one of the largest

As the new week begins, analysts are keeping a close eye on the Bitcoin price chart and the altcoin charts. Recently, the market experienced one of the highest volatility spikes, on par with those seen during the COVID-19 pandemic and the Great Financial Crisis, followed by a volatility crash.

Volatility Spikes and Their Impact on Altcoins

Continuing further, the market is approaching points where it could break out from historical cycles. For example, XRP’s peak in April 2013 led to a major move by 2017, spanning 1,220 days. Now, the time frame since the 2018 peak, which lasted 1,198 days till April 14th, is approaching this period. This historical context may provide some perspective for those feeling restless with the market’s slow pace.

According to Blockchain Backer, the present situation does resemble past market conditions, although the broader economic environment is less favorable at the moment. He suggests that over the next few weeks, it will become clear whether the market will show significant positive movement.

He notes that with most S&P 500 companies underperforming, a shift in this trend could lead to a broader market rally, which would benefit cryptocurrencies.

The Blocker said that recently, there was a huge spike in market volatility, which was then followed by a sharp drop in volatility. This kind of extreme movement has happened before, like during the 2017 crypto boom, and it usually leads to big changes in the market. After such drops, assets like Litecoin and XRP have historically seen major gains.

Historical Market Cycles and Future Outlook

Continuing on, the analyst also mentioned that while several aspects of the market appear similar to past cycles, there is one key difference – the broader market’s overall health isn’t quite the same as it was during previous bull runs. Specifically, the current market isn’t showing the same level of positive momentum and growth that was seen in earlier cycles.

Despite this, the analyst remains optimistic. He suggests that if the market follows past trends, it could still experience a positive turnaround. He believes that the next few weeks will be crucial because significant market shifts often occur within similar timeframes.

Also Check Out: Top China-Linked Altcoins with 100x Potential

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