Altcoins might face more struggles before seeing any real gains, says a crypto trader who predicts a final “altcoin reckoning” ahead. ITC Crypto founder Benjamin Cowen shared in a post on X that the grand finale of the altcoin reckoning is finally here.
He mentioned that things should settle down by December or, at the latest, mid-January 2025.
It’s been a long journey, and a lot of people lost hope along the way, but this was always part of the process.
The forecast suggests the altcoin market might undergo a final shakeout, much like it did in the 2019 bear market. Currently, the altcoin market cap chart shows similar patterns. In 2020, altcoins slowly bounced back before skyrocketing to new highs in 2021. If the analyst’s prediction holds true, we could see a similar recovery and rally in 2025.
Traders predict altseason revival
In a recent post on X, he pointed out that altcoin/Bitcoin pairs have been steadily losing value for the past three years. Moreover, Benjamin Cowen added that the last two “altseasons” occurred in the post-halving years of 2017 and 2021. Echoing this, ardizor made a similar prediction in a Nov. 4 post, saying the altseason patterns from 2017 and 2021 are “repeating after three years.”
Crypto investor “Sensei” recently shared with his 60,000 followers on X that he expects “the biggest altseason ever” to kick off in less than 10 days. According to TradingView, Bitcoin’s market dominance has reached 60.5%, its highest point since Mar. 2021. For altcoins to see any real action, BTC’s market share must drop below 50%.
Over the weekend, crypto markets took a hit, with total market value dropping to $2.4 trillion by Monday, Nov. 4. Altcoins felt the impact the most—Ethereum and Solana have each fallen by 11% since their highs on Oct. 30. BNB is down 8%, while Bitcoin has held up a bit better, slipping only 5.8% since it peaked at $73,000 late last month. Bitcoin continues to dominate the market, showing more resilience than most altcoins.
