Posted 4/14/2024, 5:56:08 PM
Altcoin Prices Plunge as New Tokens Flood Market Without Needed Capital Inflows, But Analyst Sees This as Local Top, Not End of Bull Run
- Altcoin crash caused by oversaturation of new altcoins and insufficient new capital to support prices
- Crypto analyst Pentoshi says needed $200M daily of new capital just to maintain prices
- Pentoshi sees this as a local top, not a macro one; still optimistic on broader crypto bull market
- Pentoshi expects altcoin market cap to rebound back to $1 trillion level
- Change in positive outlook would require BTC losing structure or big outflows from BTC ETFs
