Will crypto VC funds lead to new altcoin season starting June 30?

29 Jun, 2019
by David Robb
Will crypto VC funds lead to new altcoin season starting June 30?

While Bitcoin has seen relatively steady gains over the past few months as part of a new bull run, the market is yet to see much of an 'altcoin season' to accompany it. One trader has predicted that this could soon be about to change.

Popular trader Trading Room (@tradingroomapp) claimed on June 25 that this could be a crucial time of the year for the crypto market, as we approach the halfway point of the year. Crypto-focused venture capital funds will be stepping up investments around this time, as the second quarter of 2019 draws to a close.

Some impressive double-digit gains have been seen by a few cryptos in the top 20 over the past week or so, and fundamental news hasn't always been there as an explanation. In the past 24 hours, Chainlink (LINK), for example, has seen gains of over 40 percent. This could suggest that more pumps may be on the way for other altcoins.

Observers were generally supportive of the observations made by Trading Room, particularly as LINK was one of the alts that he predicted would pump around this time. However, the connection to VC investment in the initial tweet was met with some scepticism, as these funds apparently don't allocate enough to particular altcoins to boost prices in any noticeable way. The trader responded with a suggestion that maybe VCs were keeping their moves quiet to avoid accusations of market manipulation.

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Read more about: Chainlink (LINK)


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