asset manager VanEck, altcoin market and Bitcoin (BTC) He listed his price predictions. Accordingly, VanEck analysts said that the rise for Bitcoin will continue as the altcoin index rises.
VanEck analysts published a report stating that the Altcoin Season Index is up 53% over the last 30 days.
At this point, analysts said they believe the altcoin seasonal index is showing signs of reaching its peak, which could lead to strong gains for Bitcoin in the coming months.
Citing historical data, analysts stated that when the Altcoin Season Index exceeds 60, Bitcoin tends to provide positive returns in the following months.
Analysts, who are quite optimistic for Bitcoin, added that the recent strong performance of altcoins points to a potential BTC rise.
“The Altcoin Season Index measures the percentage of the top 50 cryptocurrencies that outperformed Bitcoin over a 90-day period. A value above 60 indicates a historically strong altcoin season and is a bullish signal for BTC.
As a result, Bitcoin often drives altcoin prices higher. “The rise in altcoins also creates a feedback loop where the price of Bitcoin rises until it reaches the top of the cycle.”
*This is not investment advice.
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Source: https://www.bitcoinsistemi.com/vaneck-analistlerinden-bitcoin-btc-mujdesi-bu-veri-ralliye-isaret-ediyor/
