The altcoin market cap is approaching a significant technical event, known as a golden cross, that could ignite a major bull run, according to popular crypto analyst Ash Crypto. On a post on X Ash highlighted the pattern forming on the monthly time frame, predicting that this development could spark a 100x altseason by Q1 2025. The last time this setup occurred, the altcoin market saw a staggering 433% increase in just four months. Could history be repeating itself?
ALTCOIN MCAP GOLDEN CROSS
ALTCOIN MCAP IS APPROACHING A GOLDEN CROSS ON THE MONTHLY TIMEFRAME
LAST TIME SMA 20 × SMA 40 HAPPENED, ALTCOIN MCAP PUMPED 433% IN JUST 4 MONTHS
I’M EXPECTING A GOLDEN CROSS BY Q1 2025, WHICH WILL START THE 100X ALTSEASON. pic.twitter.com/5TDYjSG3Et
— Ash Crypto (@Ashcryptoreal) October 28, 2024
What is a Golden Cross?
A golden cross is a bullish technical pattern that occurs when a short-term moving average (SMA) crosses above a long-term moving average. In this case, Ash Crypto refers to the 20-day SMA crossing over the 40-day SMA on the altcoin market cap’s monthly chart. Historically, this signal indicates a strong upward momentum and a potential for massive price increases.
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He shows that the altcoin market cap from 2020 to 2025, marking the previous and current golden cross occurrences. The graph illustrates how the market reacted after the last cross, leading to a multi-month surge in altcoin valuations. As the chart suggests, a similar breakout could occur by Q1 2025 if the market follows the same pattern.
Other Analysts Weigh In
Ash Crypto is not alone in his bullish outlook. Another technical analyst, Moustache, has also pointed to the formation of a golden cross on the altcoin market cap chart, drawing parallels to similar events in 2016 and 2020, both of which led to significant bull markets. He emphasized that “every four years, it makes sense,” suggesting that the cyclical nature of these patterns could indicate a massive rally approaching in 2024-2025.
Crypto experts across platforms like Nasdaq have echoed this sentiment, noting the potential for an altseason if the pattern completes. These analysts observe that the activity of whales, who have been accumulating stablecoins and preparing to enter the market, further supports the bullish outlook. If whales start converting their holdings into altcoins, it could provide the necessary momentum to fuel the altseason.
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