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Due to the recent market correction, analysts are divided on whether the altcoin season is coming.
BlockBeats News, August 6th: After Bitcoin dropped to $112,000 recently, altcoins failed to rebound, leading to analysts having divergent views on whether the altcoin season is approaching.
A Bitfinex analyst stated in Tuesday's market report: "Interestingly, the breakout in major coins did not translate into sustained buying in altcoins—quite the contrary, the decline in altcoins and Bitcoin's weakness suggest that speculative interest is waning across the board, thus the market may be entering a consolidation phase, but new macro events or strong inflows into cryptocurrency ETFs could quickly change this situation."
Cryptocurrency analyst Ted, on the other hand, said on Tuesday, "This is the best opportunity to accumulate them before practical altcoins start parabolic rises." (Contelegraph)
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