Crypto alt season 2024 would start with the breakout of the altcoin market cap. The altcoin market cap breakout level is $505B, now clearing this level.
“The market is kicking off crypto alt season 2024“, says the analyst team at InvestingHaven.com.
This is not just another prediction, it is THE most important prediction of 2024.
It should not comes as a surprise though. Several weeks, when many were calling for a top in Bitcoin, the analysts at InvestingHaven.com became very bullish.
In the public domain, they published this: Crypto Markets Almost Ready For Alt Season 2024. Are You?
More importantly, in the research area, they published many more alerts, with strong buy alerts in AI & Big Data tokens, even some InterOperability tokens. All of them are on the rise, some of them +50% up since January.
Bitcoin leading but not dominating
While Bitcoin’s long term chart may be great, we don’t think BTC is going to dominate during crypto alt season 2024. And this statement has absolutely nothing to do with the BTC ETF approval, on the contrary.
What matters is the chart pattern of BTC.
As seen below, the rounded reversal is the dominant pattern on Bitcoin’s chart. Bitcoin did already rise a lot in 2023. While BTC can certainly rise in 2024, maybe even to temporarily hit ATH, it does not nowhere near as much upside potential as altcoins.
Crypto alt season 2024 is here
The point made above is that alts, some alts to be more precise, have so much more upside potential than BTC.
We can see this on the altcoin market cap chart, excl. mega caps BTC and ETH.
The altcoin market cap chart is an absolute beauty. It suggests that there is good upside potential in altcoins, more than in BTC, before hitting ATH.
This implies, and, admittedly, this is a forecast, that some specific altcoins have tons of upside potential. The pre-requisite is that alts need to continue to move higher, clearing their breakout level which is $505B. We explained this in great detail in our BTC dominance post.
AI crypto coins the outperformers
Which altcoins to invest in as crypto alt season 2024 gains momentum?
If anything, we suggest to stay away from general recommendations. They don’t tend to work most of the time. You will not find the hidden gems in those articles.
Similarly, trade ideas are very often a collection of opinions of pseudo chartists. Not the best source to pick your next winner. For sure, stay away from the vlogger that knows it all, while there are some ‘good guys’ on Youtube most of them are social media addicts as opposed to real analysts.
As said, this is a hidden crypto bull which implies that the leaders in this crypto bull cycle are not the usual suspects.
We firmly believe that AI crypto coins will be winners, outperformers, multi-baggers. As said:
One rule of thumb to remember – the AI crypto coins that were leaders in 2023 won’t lead in 2024. Take for instance Fetch.ai, our top AI coin of 2023. We flashed a buy alert in our research service right before it moved 800% higher. At this point in time, we do not recommending buying Fetch.ai now. In fact,. we are recommending to take profits, and rotate to the next winners in what we call the AI crypto 2.0 trend.
The new wave of AI crypto coins, we tend to call it AI crypto 2.0, will offer amazing opportunities.
Readers looking for high level information should find value in our broad crypto alt season 2024 trend analysis. However, those who are interested to understand the specific symbols our analysts have selected for premium members are recommended to check out the recent crypto alerts (research area, easy and quick sign up required).
