💠In 2024, the upward rally in cryptocurrencies has been primarily led by Bitcoin (BTC), as well as AI and meme coins. However, due to the current downward correction, crypto analyst Altcoin Sherpa believes that one of two events could trigger a full-fledged altcoin rally.
💠The analyst described two possible scenarios: an ultimate capitulation or a prolonged period of consolidation. Currently, the “Altcoin Season Index” shows that the likelihood of an altcoin season is extremely low. For the season to begin, the index must reach a score of 75 out of 100, whereas it currently stands at just 35 points.