The New Altseason: What You Need to Know

As autumn sets in, Russian experts predict a potential resurgence in altcoin market activity, signaling a possible altseason. VG GROUP Managing Partner Vagiz Nurullov highlighted the historical lack of liquidity in the crypto market compared to traditional stock markets, coupled with heightened volatility. However, Nurullov expressed optimism about a more active market phase ahead with increasing open interest and traders engaging in more transactions. ## Altseason to Begin in November? Nurullov emphasized the current market's transition into a more active phase, attributing it to an uptick in open interest. He noted a surge in trader activity and risk appetite, setting the stage for potential growth. Despite the traditional weakness of September in the crypto space, the overall cryptocurrency market valuation has continued to rise heading into autumn. Since the start of the month, the market has experienced a 7% growth, notwithstanding fluctuations in Bitcoin prices. Russian analysts emphasized the significance of Bitcoin's consolidation above $65,200 to confirm a shift from a downward to an upward trend. Market dynamics are closely linked to Bitcoin's performance, with future trends hinging on key price levels. ## Global Factors Set to Come into Play Oleg Kalmanovich from Neomarkets echoed the impact of the Federal Reserve's recent rate cut on financial markets. Kalmanovich anticipated a series of bank interest rate reductions, historically driving the growth of riskier assets like cryptocurrencies. He highlighted the redirection of capital from low-yield dollar deposits to alternative assets, fuelling the crypto market's momentum. In light of the upcoming US labor market data release on October 4 and the presidential election on November 5, Kalmanovich predicted expanded liquidity in the banking sector, likely bolstering altcoin performance. Market observers are advised to monitor these developments to gauge future crypto market movements. ## Experts Urge Caution While optimism surrounds the potential altseason, experts urge caution, emphasizing that this period may differ from previous iterations due to the vast array of new cryptocurrency projects available. The experts projected initial growth phases by early November, followed by a potential second wave in March. Market dynamics are expected to be heavily influenced by the outcome of the US elections. Projects like NEAR (NEAR), XRP, and Polkadot (DOT) were identified as assets with growth potential, given their relative price stagnation compared to other cryptocurrencies. These tokens could capitalize on Western economies' lower interest rates to drive price appreciation. Analysts foresee a promising altcoin season on the horizon, potentially marking the most significant altcoin bull run since 2017. This positive outlook underscores the market's adaptive nature and the potential for substantial growth in the altcoin space.