Well-known cryptocurrency analyst Ali Martinez shared his controversial thoughts on the altcoin season in his latest statement.
Ali Martinez said that there may not be an altcoin season after this.
Martinez attributed this thought to the extreme increase in the total number of altcoins since the last altcoin season. According to the analyst, there are currently 36.4 million altcoins on the market. On the other hand, there were 3,000 altcoins in the 2017-2018 bull and less than 500 in the 2013-2014 bull.
With this comment, the analyst thinks that in the current situation, capital is flowing into altcoins in general, and that there has already been excessive growth when the total altcoin market value is considered.
In addition, Martinez, while admitting that it was a controversial idea, claimed that according to his own analysis, the bear market could start within 90 days. This statement from the analyst, who previously said that he expected a big rally in the price of Dogecoin, drew backlash. However, Martinez claimed that DOGE could still experience a rally within 90 days.
However, also speaking about Bitcoin, the analyst argued that the $97,877 level in the BTC price is a critical support level, from which 101,000 BTC were previously collected by whales.
*This is not investment advice.
