Crypto analysts identified historical patterns showing that major market dumps preceded altcoin rallies, suggesting altseason could be just ahead.
Crypto analysts speculate that the massive weekend leverage flushout, which wiped billions of dollars from the crypto markets, may have just paved the path for “altseason 3.0.”
“Every major expansion in crypto has included sharp 30% to 60% resets along the way,” observed analyst and researcher “Bull Theory” on Monday.
March 2020 saw almost 70% wiped off markets in the pandemic-induced black swan event, and May 2021 saw more than 50% wiped out. There were at least five other 30% to 40% altcoin slumps during the last bull market cycle.
