Josh discusses the current state of altcoins in the cryptocurrency market, suggesting that while some progress is being made, it's not quite time for altcoins to shine yet.
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He believes that Bitcoin (BTC) will likely push towards $100,000 by the end of the year, and only after that will altcoins start to perform better.
According to Josh, the dominance of Bitcoin in the market is still very strong. He explains that for altcoins to really take off, we need to see Bitcoin's dominance weaken, which isn't happening yet.
Josh points out that while some altcoins are showing signs of recovery against the US dollar, they're still struggling when compared to Bitcoin.
Looking ahead, Josh sees potential for altcoins in the fourth quarter of the year. However, he stresses that patience is key. He compares the current altcoin market to other high-risk investments in traditional markets, which are starting to show some strength. This, he suggests, could eventually lead to more interest in altcoins.
In conclusion, while Josh sees some progress for altcoins, he advises waiting for clearer signs of strength before getting too excited. He recommends looking for higher highs and bullish trends on longer timeframes before considering significant investments in altcoins.
