Venture capitalist Felix Hartmann, who heads Hartmann Capital, predicted exchange rate crash Cardano (ADA) and other alternative coins to Bitcoin.
I think the altcoin season is over. Most altcoins have increased by over 100% this year. The recent price surges were driven entirely by futures traders, with spot trading volumes declining.
The fall will be horrific. Traders may act irrationally, but we have reached a point where teams and venture funds are starting to act more aggressively.
Once the upward movement stops, we will have to remove leverage, which will lead to the appearance of candles with long wicks [occurring in the event of a sharp decline in the value of a coin], Hartmann said.
Felix published a chart of the rate change Cardano , apparently hinting at the upcoming dump of the coin's value. But, judging by his words, the collapse of the price threatens other altcoins that have risen in price, for example, XRP ( XRP ) and Solana (SUN).
Hartmann also said he had opened long positions on Bitcoin with x2 leverage and created shorts to sell “dinosaur coins,” which refers to cryptocurrencies that have been issued for a long time, in particular, XRP .
However, a veteran cryptocurrency trader who has been investing in cryptocurrencies since 2018, under the pseudonym Sensei, believes that the altcoin season is just beginning. In his opinion, the market for alternative coins to Bitcoin is now in the same position as at the end of 2020, when the incredible bull rally began.
Altcoin Capitalization Change Chart by Sensei
