Top Trader Predicts Altcoin Season To Follow The Ongoing Bitcoin FOMO
A famous cryptocurrency analyst has issued a “FOMO alert” for Bitcoin, not as a call to buy the top asset, but as a final warning to investors that the window to position for an upcoming altcoin season is closing fast.
The alert comes as Bitcoin rebounds sharply after an 11% crash earlier in June, a move that is reigniting bullish sentiment across the market.
The analyst announced an upcoming YouTube session where he would detail the factors behind his altcoin season prediction via X. The announcement triggered respondents’ reactions, including advice to retail traders who must appreciate the crypto market’s psychological element and do reasonable research before buying specific altcoins.
In the meantime, one respondent was critical of the analyst’s prediction, insisting that the altcoin season would not come. According to the respondent, things have changed, and retail investors no longer buy altcoins. However, most respondents disagreed with that opinion but believed the crypto market has become more complicated while relying on the same fundamental factors.
FOMO returned to the Bitcoin market after the cryptocurrency rebounded from an 11% crash in June. BTC tumbled from $110,587 to $98,240 in June before reversing its trend. The latest rebound saw Bitcoin gain 10.72% over the past week, attracting an influx of investors and ending the month with a bullish sentiment.
According to data from TradingView, Bitcoin sold for $107,654 at the time of writing, reflecting significant upside momentum. A continuation of the rally could see BTC head for the $110,000 psychological level and closer to the cryptocurrency’s all-time high of $112,000. That leaves investors with an optimistic outlook about the top crypto.
Meanwhile, the crypto analyst’s logic depends on the typical market cycle, which sees altcoins experience significant inflows after a Bitcoin FOMO. He foresees the brewing BTC surge slowing down soon and giving way to an altcoin market rally. The analyst believes this is the time for altcoin investors to position their portfolios for the next altcoin season.