As the U.S. presidential election nears, analysts like Michaël van de Poppe are gearing up for an altcoin season, predicting a potential breakout within the next 15 days. Van de Poppe highlights that the altcoin market capitalization, excluding Bitcoin and Ethereum, is poised for a surge, with market conditions hinting at a breakout in the coming weeks.
Election Impact on Altcoins: What Experts Are Saying
With just 22 days left before the U.S. election, analysts are closely watching the crypto market for a potential altcoin boom. According to several industry experts, a post-election rally could be on the horizon, especially if regulatory barriers are eased. Notably, Ki Young Ju, CEO of CryptoQuant, points to the possibility of altcoin surges if regulatory conditions change, particularly for tokens like Uniswap (UNI), which has faced hurdles due to legal concerns.
There is growing speculation that a Trump re-election could bring favorable regulatory shifts for altcoins. Ki Young Ju believes that Uniswap's long-delayed fee switch mechanism, which could significantly boost UNI's price, may be activated if Trump wins. He suggests that such regulatory changes could remove existing barriers, allowing altcoins to thrive in the market.
Historical Trends Point to a Bull Run
Looking at historical patterns, some analysts draw comparisons to Bitcoin's 2020 cycle, predicting that a potential altcoin rally could follow shortly after. CRG, a prominent analyst, notes that Bitcoin's current phase mirrors late 2020 when Bitcoin hit new peaks followed by an altcoin season. With Bitcoin's dominance hovering around 58%, the stage could be set for altcoins to capture more market share as the election nears.
Altcoin Season: Just Weeks Away?
As the countdown to the election continues, market optimism is growing. Van de Poppe and other analysts predict that within the next few weeks, altcoins could experience a strong rally, especially if Bitcoin's dominance declines. With Trump currently holding a 54% chance of winning, according to Polymarket, the outcome of the election could play a pivotal role in shaping the future of altcoins.
