While Bitcoin has shown a downward trend after reaching its ATH in March, altcoins are also affected by this trend.
While investors continue to keep their eyes on the expected rally in BTC and altcoins, 10X Research founder Markus Thielen said that the expected rise may be further delayed.
Stating that large token unlocking transactions are generally bearish events, Thielen said that the recovery in BTC and altcoins may be delayed due to token unlockings that will occur in various altcoins in the coming weeks.
“Nearly $2 billion worth of consecutive token unlocks over the next ten weeks could depress the altcoin market.
Lock openings may also limit the upside performance of altcoins with positive momentum.
As a result, this may further delay the expected recovery in Bitcoin and altcoins.”
FUDs May Increase in the Coming Months!
Apart from Markus Thielen, K33 Research analyst Velte Lunde also thinks that the recovery may be delayed.
Speaking to Coindesk, Lunde warned investors that selling pressure in Bitcoin and altcoins may increase in the coming weeks.
“Considering that over 11 billion dollars of Bitcoin will be distributed to the creditors of the cryptocurrency exchange Gemini's Earn program and Mt. Gox, selling pressure may increase in Bitcoin and altcoins in the coming weeks.
The coming months are set to see crypto FUD waves.”
*This is not investment advice.
