Analyst Issues Warning on Crypto Market, Says Massive Downturn Incoming for ‘99% of Altcoins’ – Here’s His Outlook
A widely followed crypto analyst is issuing a warning, telling traders that the overwhelming majority of altcoins will soon be seeing red. In a new thread, pseudonymous crypto trader Altcoin Sherpa tells his 255,400 followers on X that 99% of altcoins will soon see a downturn followed by a weeks-long period of consolidation, ultimately culminating in a massive swing to the upside sometime in December or January. However, the trader notes that his theory would be invalidated if Bitcoin (BTC) breaks the $120,000 level and continues to push on with strength. “-Downtrend followed by chop for 99% of altcoins and then full ripping in December/January. -Majors and coins w/ DAT (digital asset treasury) flows hold up okay, the rest of the market pulls back in the short/mid term. -99% of alts will continue pulling back for the next few weeks and this will be followed by a few weeks of consolidation. -Not all hope is lost; I think December/January is going to be ver...