The ‘grand finale’ of the altcoin reckoning is about to arrive

According to an opinion posted by ITC Crypto’s Benjamin Cowen, the altcoin market should prepare for a correction before a sudden return. The crypto enthusiast believes the primary consolidation cycle will conclude by the end of 2024 or mid-January 2025.

“It has been a long journey, and many gave up along the way, but this process was always going to play out,” Cowen noted.

Cowen’s prediction is based on historical data. In 2019, the altcoin market crashed. In 2020, it gradually recovered. 2021 saw the beginning of the new altcoin season with new highs.

The ITC Crypto founder also mentioned that altcoin/Bitcoin pairs had been ‘bleeding’ for the past three years.

“I’m sure the gurus will laugh like they always do, but their alt season calls have been wrong for 3 years straight,” Cowen stated.

Previously, experts at Hashkey Capital reported that it wouldn’t be enough for Bitcoin to break its all-time high to start an altcoin season.

“In an optimistic scenario, altcoin season is more probable when Bitcoin’s price surpasses $80,000,” the analysts reported.