Crypto even Michaël van de Poppe, one of the most well-known analysts in the world, shared in his statement the state of the market and when an altcoin season may start.
According to the analyst, there is a large correlation between the Ethereum price and US Treasury Bond yields. After the last interest rate cut meeting, ETH price increased by 11%.
However, as sentiment changed and bond yields increased, a downward movement began in the ETH price.
That’s why Van de Poppe thinks that the start of the next altcoin bull season will come after the interest rate cut decision is announced at the next FED meeting. The next FED meeting will be held on November 6-7.
The analyst said that his altcoin positions are currently at a loss, but he remains patient due to his own thesis.
Recently, with the Bitcoin price experiencing a serious rally, altcoins remained silent, which caused BTC dominance to reach the highest price level of the recent period. Unlike Bitcoin, which is trading at just 9% below its all-time high price record, Ethereum is trading at 45% below its all-time high price record.
*This is not investment advice.
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Source: https://www.bitcoinsistemi.com/tecrubeli-analist-altcoin-bogasi-sezonu-icin-tarih-tahmini-verdi/
