Signs point to a likely altcoin rally in the final months of 2024

Altcoins fought an uphill battle for the first eight months of 2024, but several signs are suggesting that an explosive recovery is imminent.

Ethereum (ETH) has been trending downward against Bitcoin (BTC) in recent days, which has contributed to weakness across the cryptocurrency market. But relief could be on the horizon in the months ahead.

The bad news is that Ethereum is currently facing the lowest point of its price against Bitcoin in the last 1,000 days. That’s a massive blow to everyone invested in Ethereum, especially as multiple upgrades have taken place over the last several years. While Ethereum ETFs have also launched, they have failed to provide strong momentum.

On the bright side, all of the market weakness could be simply due to seasonality — a factor that will soon be working in favor of bulls. In past years, altcoin markets have surged and fallen depending on the season. A prime example is Chainlink (LINK), which generally surges against Bitcoin in the second half of the year while losing value during the first half of the year. It lost more than 60% of its value during the first half of the year in 2022, 2023 and 2024 — and surged more than 120% in the second half of the year in 2022 and 2023.

Altcoins fought an uphill battle for the first eight months of 2024, but several signs are suggesting that an explosive recovery is imminent.
Ethereum (ETH) has been trending downward against Bitcoin (BTC) in recent days, which has contributed to weakness across the cryptocurrency market. But relief could be on the horizon in the months ahead.The bad news is that Ethereum is currently facing the lowest point of its price against Bitcoin in the last 1,000 days. That’s a massive blow to everyone invested in Ethereum, especially as multiple upgrades have taken place over the last several years. While Ethereum ETFs have also launched, they have failed to provide strong momentum.On the bright side, all of the market weakness could be simply due to seasonality — a factor that will soon be working in favor of bulls. In past years, altcoin markets have surged and fallen depending on the season. A prime example is Chainlink (LINK), which generally surges against Bitcoin in the second half of the year while losing value during the first half of the year. It lost more than 60% of its value during the first half of the year in 2022, 2023 and 2024 — and surged more than 120% in the second half of the year in 2022 and 2023.Read more