The leading cryptocurrency Bitcoin (BTC) has once again attracted all the attention after breaking new records.
As BTC races from record to record, discussions about the long-awaited altcoin season have flared up again. At this point, analysts generally expect the altcoin season to begin in the coming months as Bitcoin dominance declines.
Speaking to Coindesk, Bitget Research Chief Analyst Ryan Lee also stated that a potential decline in Bitcoin dominance would kick off an altcoin season and benefit major altcoins like XRP and Solana (SOL).
Sharing his predictions regarding altcoin prices, Lee stated that regulatory clarity and technical analyzes regarding XRP reflect a bullish trend for XRP, and predicted that the price could rise to between $3-8 in the medium term, in line with investors’ expectations.
Lee, who also examined Solana, said SOL could climb to $220-$300 amid ETF speculation.
Finally, Lee, who made his Cardano prediction, added that ADA showed the potential to break between $1 and $3.
Apart from Ryan Lee, FxPro senior analyst, Alex Kuptsikevich also noted that the Bitcoin sentiment index was trading just below “extreme greed” as of Friday. The analyst said that this is a sign that the BTC rally will continue in the coming days.
*This is not investment advice.