Bitcoin

Altcoins could be in for more pain before any gains, according to a crypto trader who predicted that a final “altcoin reckoning” may occur. 
“It looks like the grand finale of the altcoin reckoning has finally arrived,” <a data-ct-non-breakable="null" href="https://x.com/intocryptoverse/status/1853125393563185299" rel="null" target="null" text="null" title="null">said</a> ITC Crypto founder Benjamin Cowen in a post on X on Nov. 4.
He added that the reckoning should be over by December or the second week of January 2025 at the latest. “It has been a long journey, and many gave up along the way, but this process was always going to play out,” he said.
The prediction is based on a final flush-out for <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-altcoin-seasons-crypto-cycle-willy-woo-crypto-analyst" rel="null" target="null" text="null" title="null">altcoin markets</a>, which occurred during the bear market of 2019. The altcoin market capitalization chart is currently showing a similar pattern.
Altcoins gradually recovered in 2020 before surging to fresh highs in 2021. According to the analyst, this scenario is likely to play out in 2025.&nbsp;
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 <img alt="Markets" src="https://s3.cointelegraph.com/uploads/2024-11/0192f5ab-26b0-7719-993f-08fddd90bfcd" title="">
 <figcaption style="text-align: center;">
 Source: <a data-ct-non-breakable="null" href="https://x.com/intocryptoverse/status/1853125393563185299" rel="null" target="null" text="null" title="https://x.com/intocryptoverse/status/1853125393563185299">Benjamin Cowen</a>
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In a separate post on X, he said that altcoin/Bitcoin pairs have continued to bleed for three years straight, adding that the last two “altseasons” occurred in post-halving years 2017 and 2021.&nbsp;
Trader “ardizor” predicted something similar in a Nov. 4 post, <a data-ct-non-breakable="null" href="https://x.com/ardizor/status/1853180911581274356" rel="null" target="null" text="null" title="null">saying</a> that the altseason patterns from 2017 and 2021 are “happening again after three years.”&nbsp;
Meanwhile, crypto investor “Sensei” <a data-ct-non-breakable="null" href="https://x.com/SenseiBR_btc/status/1853176286958551143" rel="null" target="null" text="null" title="null">told</a> his 60,000 X followers that “the biggest altseason ever will start in less than 10 days.”&nbsp;
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/is-crypto-altseason-coming-watch-these-3-key-signals" rel="null" target="null" text="null" title="null">Is crypto ‘altseason’ coming? Watch these 3 key signals in the months ahead</a>
Bitcoin’s (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="null" target="null" text="null" title="null">BTC</a>) market <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-dominance-over-three-year-high-altcoins-see-little-gains" rel="null" target="null" text="null" title="null">dominance</a> is currently at its highest level since March 2021 at 60.5%, according to TradingView. It is unlikely that there will be any significant movements for altcoins until BTC’s market share falls back below 50%.
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 <img alt="Markets" src="https://s3.cointelegraph.com/uploads/2024-11/0192f5ab-8f39-7f33-b079-e4f1f07fce71" title="">
 <figcaption style="text-align: center;">
 Bitcoin dominance over the past four years. Source: TradingView
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Crypto markets retreated over the weekend as total capitalization fell to $2.4 trillion by Monday, Nov. 4.
The brunt of those losses was borne by altcoins, with Ether (<a data-ct-non-breakable="null" href="https://cointelegraph.com/ethereum-price" rel="null" target="null" text="null" title="null">ETH</a>) and Solana (<a data-ct-non-breakable="null" href="https://cointelegraph.com/solana-price-index" rel="null" target="null" text="null" title="null">SOL</a>) dropping 11% since their Oct. 30 highs. BNB (<a data-ct-non-breakable="null" href="https://cointelegraph.com/binance-coin-price-index" rel="null" target="null" text="null" title="null">BNB</a>) has lost 8%, while Bitcoin has only dipped 5.8% since it topped $73,000 late last month as it continues to dominate crypto markets.&nbsp;
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/microstrategy-michael-saylor-donald-trump-crypto-exchange-kraken-hodlers-digest/" rel="null" target="null" text="null" title="null">Saylor falls for fake Trump news, Kraken restructures, and more: Hodler’s Digest</a>

‘Grand finale of altcoin reckoning’ soon, warns crypto trader

Cointelegraph

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