Analyst Predicts New Altcoin Boom: Major Gains Expected by Early 2025
22.08.2024 22:00 1 min. read Alexander Stefanov
A well-known analyst and cryptocurrency trader, known as "Altcoin Sherpa," has expressed optimism about the future performance of altcoins.
Sherpa anticipates a new altcoin rally similar to the one that occurred between November 2023 and March 2024. The expected rally is predicted to take place around December or January, aligning with a potential peak in Bitcoin’s value before a possible cooldown period.
Sherpa pointed out that while the upcoming altcoin season might not match the intensity of the January 2021 surge, significant growth is still expected. He foresees some altcoins achieving gains of 3x to 5x, although only a few are likely to emerge as standout performers.
Among the altcoins currently offering promising trading opportunities, Sherpa highlighted decentralized finance (DeFi) platform Aave (AAVE), XRP, and major tokens like BNB Chain (BNB) and Tron (TRX).
He also noted that newer projects, including Solana-based io.net (IO), DeFi protocols BounceBit (BB), and Blast (BLAST), have potential but are less secure. Their success will largely depend on Bitcoin’s stability in the coming months.
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