The performance of altcoins has not lived up to expectations, but that may soon change

Real Vision Chief Crypto Analyst Jamie Coates reports that while Ethereum (ETH) performed well earlier this month, it is still lagging behind Bitcoin (BTC).

Coates also said he expects a turnaround at the altcoins in the second half of 2024 as liquidity improves:

Despite the recent preeminence of ETH , no further development is observed (top graph), and the SCP sector continues to lag behind Bitcoin .

The Altcoin Season Index (bottom chart) confirms this trend, heading down and only 18% of the top 100 assets… outperforming BTC. I still believe the turnaround will come in the second half of the year – sooner rather than later as liquidity at the margins starts to improve (recent Central Bank cuts).

The recent crypto market crash is normal, according to Coates, and traders should brace themselves for profitable opportunities when things calm down.

The analyzer statements :

BTC and ETH were down -11% and 5% respectively. If this is a mid-cycle correction, which I think it could be, then there will certainly be some opportunities in small and midcaps once the markets calm down.