dailyhodl.com
CryptoQuant chief executive Ki Young Ju still thinks altcoins could shine despite the difficult macro headwinds.
Last week, Young Ju predicted that altseason would begin in late 2024 or early 2025.
In the wake of plunging crypto and stock prices over the weekend and on Monday, the analytics firm CEO reiterated this week that his prediction for altcoins wasn’t based on the macro environment.
“It’s still uncertain whether Bitcoin is in a long-term bear market. If BTC stays above the $45,000 level, I believe the market could recover at any time.
Everyone is aware of the unfavorable macro environment, and I am no exception. However, my altseason prediction wasn’t based on global macro liquidity but rather on observing strong buy walls from whales in secondary markets. Whether they’re defending against price drops or anticipating an altseason, whale accumulation remains valid.”
Young Ju also notes that “only a few altcoins might stand out” if the economy dips into a recession.
“While asset prices may drop due to macroeconomic crises, those with strong buy walls that establish a stable price support base could see significant upside potential after the crisis. I’ll continue to monitor altcoins with whale and smart money accumulation, regardless of the macro situation.”
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