Will the Altcoin season occur in Q3? A survey of cryptocurrency in South Korea indicates a bullish trend.

As the crypto market gradually recovers from the recent fluctuations and instability caused by macroeconomic factors, a positive shift in investor sentiment is slowly taking shape, with increasing optimism.

A recent survey by CoinNess and Cratos conducted on 2,000 cryptocurrency investors in South Korea shows a shift in sentiment from Bitcoin to altcoins. Among them, 33% predict that the price of Bitcoin will rise this week, 35.7% expect the crypto market to remain stable, and just over 31% are concerned about the possibility of a price drop.

Investors anticipate the recovery of Altcoin

For altcoins, although prices are currently struggling, many investors still hope that a recovery may be on the horizon. More than 36% believe that the next altcoin season could start in Q3. Meanwhile, 22% predict it will occur at the end of this year in Q4, and 16.7% believe that this season could start right in the current quarter.

However, 13.3% do not expect a strong price increase this year, and 11.3% believe that the altcoin season has ended. Although the price outlook has somewhat improved, the overall market sentiment remains concerned. As many as 46% of investors feel fearful or extremely fearful, while 29.3% maintain a neutral attitude, and only about 24.7% are optimistic or extremely optimistic.

Altcoin Season Index Review

According to data from CoinMarketCap, the CMC Altcoin Season Index is currently at 16, much lower than the threshold needed for altcoin season to begin. This may indicate that Bitcoin is still dominant in the thị trường tiền điện tử, especially after a strong recovery from the tax concerns of Trump which temporarily pulled prices down to $75K.

Since the launch of Bitcoin ETF funds in January 2024, Bitcoin has maintained dominance with over 60% market share, while altcoin remains below 40%. As prices continue to recover, it is still necessary to monitor whether altcoin can surpass Bitcoin in the coming months.

Analysts Share Optimistic Outlook

Crypto analyst Altcoin Gordon has provided an optimistic outlook for the crypto market. He stated that many indicators are suggesting a major bullish market with the onset of altcoin season.

Bitcoin has finally surpassed the $87,000 mark, currently trading at $88,054, up about 3% over the past week, while altcoins are still struggling to gain momentum. Major tokens like Ethereum ($1,575), XRP ($2.08, and Solana )$138.91 have all seen slight declines over the past 24 hours, decreasing by 0.5%, 0.3%, and 0.2% respectively.

Disclaimer: This article is for informational purposes only and is not investment advice. Investors should do thorough research before making decisions. We are not responsible for your investment decisions.

Mr. Giáo