Analysts at Hashkey Capital say altseason could find firmer footing once Bitcoin trades above $80,000.
Bitcoin (BTC) breaking its current all-time high of $73,679 won’t be enough to kick-start an altcoin season according to a crypto investment firm.
“In an optimistic scenario, altcoin season is more probable when Bitcoin’s price surpasses $80,000,” crypto investment firm Hashkey Capital analysts opined in an Oct. 23 market report.
The $80,000 target is about 18% above its current price of $67,331 price and the analysts argued that for altcoin season to start, Bitcoin’s dominance will likely need to reach between 62% and 70%.
