- Bitcoin’s rally is followed closely by altcoins like SUI and FET.
- This bullish altcoin activity indicates the arrival of altseason.
- Altcoins like VET and DOGE show major price surge indicators on their price charts.
Bitcoin’s recent surge to surpass $63,000 has turned October to flip green into a bullish month, leading analysts to expect the start of Uptober bringing with it major price pumps for the crypto market. One in particular declares that the bull run has begun and marks the start of what many believe will be a significant uptrend, reminiscent of the 2017 crypto boom.
Altcoins Prepare for Altseason to Commence
As we can see from the post above, he declares that the bull run phase has already begun and advises traders to be ready. He also states that the early stages of this cycle may seem less exciting but vigilance is necessary to make monumental gains. He says technological advancements and new liquidity flowing into the markets will soon drive more action.
Meanwhile, another analyst takes this pump to draw attention to the long-awaited arrival of altseason and its promise for new ATH for altcoins across the crypto market. The chart shared in the post above marks how with the Altcoin Season Index showing a bullish Inverse Head & Shoulders pattern, a breakout is certainly primed.
VET and DOGE Prepare to Ride Altseason Rocket
Driving these bullish expectations are the actions of various altcoins that are already making steady pumps like SUI and FET. Likewise, many other altcoins like VeChain (VET) and Dogecoin (DOGE) are closely following suit with their own bullish chart signal indicators, flashing signals for significant price increases.
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In particular, for VET, the altcoin is entering the early stage of Wave 3, known as the most explosive phase in market cycles. Investors are encouraged to take profits near the peak of this wave, avoiding reinvesting too soon to outmaneuver market makers. A strategy of Dollar Sell Averaging is advised, with targets set around $0.50 to $0.70 for VET.
Similarly, DOGE has also shown similarities to its previous bull runs. With its all-time high (ATH) of $0.73905 still far off, the potential for a monumental price surge remains. DOGE has historically surprised the market with significant climbs, and analysts suggest it may be gearing up for another push towards new ATHs. Ultimately, as both Bitcoin and key altcoins rally, the market seems poised for an exciting phase, with opportunities for savvy investors.
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