Famous Trader Roman Predicts Altcoin Season
Famous trader Roman, known by his pseudonym, is making a forecast for the near future of the cryptocurrency market, claiming that it is the time for altcoins. He recommends investors to consider selling bitcoins and redirecting funds to cheaper altcoins, expecting their growth during the summer.
Bitcoin’s Dominance Expected to Decline
Roman notes that although Bitcoin’s dominance, i.e. its share in the total cryptocurrency market capitalization, continues to rise recently, this trend will soon change. Since May 1, Bitcoin’s dominance has increased by 3.1%, reaching 55.4% as of Monday. This is happening because capital continues to flow into Bitcoin, leading to its rise amid falling prices for many other cryptocurrencies.
Altcoin Season on the Horizon
According to the trader, this market condition is temporary, and in the coming months, we will see a change in trend. Roman predicts that Bitcoin’s dominance could drop to around 51% in the summer as the altcoin season begins. During this period, alternative cryptocurrencies, such as Cardano (ADA), which have fallen by 40-50% from their March highs, could see significant price growth.
Opportunity for Profits in Undervalued Altcoins
Roman emphasizes that for optimal results, attention should be paid to altcoins that have dropped significantly in price. He believes that this will provide an opportunity to make significant profits as their prices recover. The trader warns that investors should be prepared for possible market fluctuations, but in his opinion, the current time is a great opportunity to invest in undervalued altcoins before their anticipated growth in the summer months.
