Russian Experts: Altseason May Return – But It Won’t Be The Same as Before
Tim Alper is a British journalist and features writer who has worked at Cryptonews.com since 2018. He has written for media outlets such as the BBC, the Guardian, and Chosun Ilbo. He has also worked...
Russian experts believe that altseason may return this year, with new impetus coming into the altcoin market. But they have warned that the market “won’t be like it was before.”
VG GROUP Managing Partner Vagiz Nurullov remarked that summer is “not the most active and successful period for trading, especially cryptocurrencies,” Russia’s RBC reported.
Nurullov said that crypto suffers from “not having as much liquidity as global stock markets,” as well as increased volatility.
However, with the summer months now gone, the expert opined that more “active” periods may be ahead.
“We are, generally speaking, entering a more active stage of the market. We can see that the market is wtinessing an increase in open interest. And, in general, traders are entering into transactions more actively. Their appetite for risk has increased.”
The media outlet pointed out that “although September is traditionally a weak month” for crypto, “the overall market value of cryptocurrencies continued to rise in early autumn.”
Since the beginning of the month, RBC remarked, the market “has grown by 7%,” despite bumpy Bitcoin (BTC) prices.
Russian analysts said they believe that much depends on BTC prices. They opined that Bitcoin “needs to consolidate above the $65,200 mark “to confirm the change of downward trends to an upward direction.”
Nurullov said experts “can see an increase in open interest,” although he conceded that this was “not very strong yet,” as the market is still “awakening.”
He added that the market is now at a stage where several positive
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