Here’s Why Analysts Are Turning Bullish on a Major Altcoin Breakout

• There are similarities between the current altcoin season and the previous cycles.
• Bitcoin surged significantly but is gradually losing dominance.
• Ethereum has achieved a new all-time high, preparing the way for altcoins.

Cryptocurrency analysts are drawing comparisons between the current altcoin season and previous bull market cycles. For many, the altcoin market consolidates in a way that often precedes a significant rally, and it’s building a high level of optimism across the market.

Bitcoin and Ethereum pave the way for a broader market rally

One major pattern that crypto analysts have observed is how investors rotate capital across major asset classes. Initially, Bitcoin dominated the cryptocurrency market with a protracted rally that saw the digital asset surge to new heights. The flagship cryptocurrency maintained a steady uptrend, with intermittent pullbacks for over 18 months, gaining approximately 400% in the process.

Related: 5 Signs That Tells Altseason Is About to Commence—What Are They?

Similar to the previous bull cycles, investors’ attention is gradually shifting to altcoins, with Ethereum, the largest altcoin by market capitaliza…

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