Crypto commentators say there is “not much alpha in chasing alts” right now, but are eyeing the possibility of Bitcoin retesting $99,000.
The majority of altcoins may continue to see a downtrend potentially until the end of January 2025, says Felix Hartmann, founder of venture capital firm Hartmann Capital.
“Some alts may continue running briefly, but the majority are likely to slow bleed or consolidate for 2–6 weeks,” Hartmann said in a Dec. 10 X post. “Not much alpha in chasing alts here, [in my opinion], as many just topped after 2–3x moves in a week.”
“While I expected slightly lower levels on some alts, perfect is the enemy of good; hence, it seems like an okay time to bring long bias back,” Hartmann said.
