Hartmann Capital: altcoins will continue to fall in price

Analysts predict that most altcoins will continue to trend downward until the end of January 2025. Felix Hartmann, founder of venture capital company Hartmann Capital, believes that some altcoins may continue to grow for a short time. However, most of them are likely to see a slowdown or consolidation within 2−6 weeks. According to him, it is not worth chasing altcoins now, as many of them have reached their highs after several spikes.

The overall altcoin market is experiencing another 24-hour drop, of which about $ 481.6 million in long positions were liquidated. The main losses were the cryptocurrencies Ethena ENA $0.45 Ethena 2.01% Market capitalization $1.4 billion VOL. 24 hours $62.02 million , Peer PEPE $0.0000000669 Based Pepe -1.58% Market capitalization $28.13 million VOL. 24 hours $0.14 billion , and Bonk BONK $0.00001580 Bonk -0.69% Market capitalization $1.22 billion VOL. 24 hours $9.42 million .

At the same time, Hartmann notes that the growth of bitcoin BTC $95,804.20 Bitcoin -0.81% Market capitalization $1.9 trillion VOL. 24 hours $0.92 billion may be caused by so-called «short squeezes» (liquidation of short positions).

Photo: CoinGlass