Can We Still Have An Altcoin Cycle? DataDash’s Take

According to DataDash, an altcoin cycle might still be on the cards, but we haven’t seen one yet. While many altcoins have outperformed Bitcoin, the indicators he follows suggest the market hasn’t reached the euphoric, overbought conditions typically associated with an altcoin cycle peak.

The key points DataDash makes are:

📈 Bitcoin’s price action hasn’t shown clear signs of a prolonged uptrend yet. The 21-day moving average hasn’t convincingly crossed above the 100-day moving average, which is often a bullish signal.

🤖 Altcoin indicators aren’t flashing overbought levels that have historically marked the top of altcoin cycles.

💰 While some altcoins have made phenomenal gains, DataDash argues we haven’t seen the parabolic moves that typically characterize an altcoin cycle climax.

🔮 DataDash believes the market could potentially continue rising, setting the stage for an altcoin cycle. However, he cautions that this is not guaranteed, and advises waiting for clear breakouts in price action before taking on risk.

In summary, while acknowledging the possibility of an altcoin cycle, DataDash remains cautious in the short term. He advocates patience, citing a lack of confirmatory signals from price action and data models. As always, he emphasizes letting price be the ultimate guide.