Real Vision analyst Jamie Coutts predicts a significant breakout for altcoins against Bitcoin (BTC). Coutts, a former Bloomberg analyst, shares his thoughts on the altcoin season index, which measures the profitability of digital assets compared to BTC, stating that it may soon indicate a bullish trend for altcoins. He believes that the current state of the crypto, presidential, and liquidity cycles suggests that an altseason signal is likely to occur in the coming weeks.
Coutts explains that a historical signal of the start of an alt season is when the smart contract platform (SCP) sector experiences growth while the alt season index is on an upward trend, as shown by the green arrows in his chart. Although the alt season index has yet to rise, Coutts notes that SCP projects are already showing bullish signs. He highlights his top picks for alt projects that he believes will perform well in the upcoming weeks, including Solana (SOL), NEAR Protocol (NEAR), and Toncoin (TON).
As of now, SOL/BTC is trading at 0.00250 BTC ($168), up nearly 1% in the last 24 hours. NEAR is trading at 0.0001135 BTC ($7.63), slightly higher for the day, while TON is trading at 0.00009646 BTC ($6.46), up 1.17% in the past 24 hours.
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