It was Rektember the last time I wrote about alts. Back then, ETH was still heading lower and there was no sign of an alt season anywhere.
Ultimately, ETH reached the low of 0.03187 on Binance and has since rebounded quite nicely, but really needs to pump to signal any trend reversal here. Considering how convulted, clumsy and expensive ETH feels to use, I would be more inclined to see a SOL pump more than ETH. I am very biased though.
Until MOONvember, we had only really seen Memecoins pumping, but now we are getting all sorts of random tokens green candling around us totally unexpectedly. Lots of this on the back of the red wave and Trump victory. It seems the new administration will be pro crypto.
I was starting to think we wouldn't be getting an alt season and that it had been cancelled, but it seems that it is coming! We have seen Hive steadly climb to nearly retake the $0,30 handle. Will it continue its climb back into healthier areas above $0,40 and $0,50 even?
CRO was the first bag that I got rid of which seemed to pop fairly quickly. Probably it has more potential but I was happy to get out without loss or profits. AVAX was another one where I missed the peak in April, so was happy to dump this one too, so I could lighten my bags.
The excitement is quite palpable with lots of buzz around bags pumping and shilling of useless NFTs. Rug Pal has been pumping out content about his banana zone and looking to get exit liquidity into his bags. Is it too late to buy something? Or is that time already passed?
I am sure people are looking around to what hasn't pumped yet and what might pump. Crazy prices for ETH, SOL and XRP are being given as serious price predictions.
Mostly I am thinking to offload my alt bags and will probably do it too soon and miss out on wild profits! However, as I missed the mini-alt season last time, I don't want to miss my bags pumping this time and be stuck holding this crap for another few years.
My surprise alt pump has been LTC which everyone has told me is dead and when I checked, it does seem quite centralised to be fair. I have been following some cash inflows to LTC though, but probably it leaves just as quickly. Will it reach it's new ATH again or this is just a mini-pump for ants?
After the nothing-ness after the LTC halving, it is good to see some life in LTC again finally.
Predictions
Looking back at my price predictions from the start of the year, I had guessed $131960 Bitcoin by 31 Dec 2024, which is so far ~$36k off, but we have a few weeks to go yet. Even Tom Lee is seeing well over $100k by the end of the year and in such a short time frame, so maybe my guess could get better the nearer we get. What could be the catalyst for continued price rises, I am guessing is further institutional adoption and it seems OTC are short of supplies and maybe are tapping the US Mount Gox bag.
Hive was trading at $0,36 when I made my prediction which was $1,03 by the end of 2024 and we can see that I was far off and even the price went in the wrong direction. Hive seems to have stopped bleeding against BTC and is holding the 300 sats line so far, but will it pump and by how much still?
How are you playing the alt season?
Over to you Fred..
Thanks for reading.
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