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📅 July 3, 7:00 – July 9,
CryptoQuant Analyst Shared the Critical Data that Initiates the Altcoin Season! "Is it Time to Buy?"
The tariff tension between the USA and China has negatively affected global markets as well as the Bitcoin (BTC) and cryptocurrency market.
While Bitcoin has fallen to the level of 74 thousand dollars, altcoins have suffered more damage from the tension between the two countries.
However, the analyst stated that the market, which has been trading in the red zone for several weeks, shows signs of a great opportunity for altcoin investors, suggesting that it may be time to invest in altcoins.
CryptoQuant analyst Darkfost shared a chart showing altcoin trading volumes, which is a suitable tool for determining ideal periods for altcoin trading.
This chart compares the total 30-day average trading volume of altcoins with their annual averages.
At this point, the analyst stated that recently the 30-day trading volume average of altcoins has fallen below the annual volume average, and historically this decline has indicated a good time to buy altcoins.
At this point, the analyst stated that it is time to start the dollar cost averaging (DCA) strategy in altcoins. According to the analyst, it may be a good time to start buying altcoins.
The analyst noted that the last time altcoin trading volume reached these levels was immediately after the end of the bear market in September 2023, and reminded that altcoin prices began to rise from that date.