Analysis Company CEO Predicts Potential Altcoin Season – “Transition from Bitcoin to Altcoins…”

Cryptocurrency analyst Joao Wedson said in his latest assessment that a clear distribution process is at play on the short-term charts of Bitcoin (BTC). According to Wedson, a structure consistent with the “Wyckoff Distribution Scheme” is forming in the market, and this is a sign of weakening in Bitcoin. The analyst expressed his thoughts in his statement as follows: Billionaires don’t just get rich during booms. They build their wealth in two primary stages: accumulation and distribution. Bitcoin’s chart is currently showing clear signs of a short-term distribution. Related News: Watch Out: There are a Lot of Economic Developments and Altcoin Events Coming Up Next Week – Here’s the Day-by-Day, Hour-by-Hour List According to Wedson, market makers are shifting from BTC to altcoins during this period. As the accumulation phase in altcoins comes to an end, a structural bullish phase is about to begin: “Mainstream media will soon start spreading optimistic news about BTC. But the smart money has already turned elsewhere.” The analyst notes that Bitcoin has entered a weekly distribution phase and expects its performance to be weak or sideways, while altcoins are poised for a structural price increase. *This is not investment advice. Continue Reading: Analysis Company CEO Predicts Potential Altcoin Season – “Transition from Bitcoin to Altcoins…”

Source: BitcoinSistemi