Analysts at Hashkey Capital have concluded that the start of the next altcoin growth season in the cryptocurrency market requires not just surpassing Bitcoin’s current historical high around $74,000, but a more substantial move.

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— HashKey Capital (@HashKey_Capital) October 25, 2024

Experts noted that historical data shows the growth of the altcoin market is closely tied to an increase in Bitcoin’s dominance to the range of 62-70%. For these values to be reached, Bitcoin’s price must fall within the $76,000-$108,000 range.

“In an optimistic scenario, the most likely start of the altseason will occur when Bitcoin surpasses the $80,000 mark,” emphasized analysts at Hashkey Capital.

Experts also reminded that the fourth quarter is typically favorable for Bitcoin, showing an average growth of 40%. Additionally, after the U.S. presidential elections, which will take place on November 5, there is traditionally an increase in the price of digital gold for up to six months.