The bear market from May to June was one of the few to hold the entire altcoin market this year. Historically, cryptoassets record voluminous bear markets every year; some are more important than others in terms of duration and effect on fiyadollarsar.
Analisdollarser says a bear market has started this year. There are many underlying structures with risk factors that could easily trigger a bear market. These took place most of May and June, and some in July, and are continuing. The recovery in the market is commendable and altcoins are grateful for it in many ways. Some of the top performers from the past month are already ready to retest their ATH and finally quit the game.
This altcoin is ready to take off: Terra (LUNA)
The first altcoin project Terra (LUNA) DeFi investors panicked throughout May when LUNA, one of the leading altcoins to date, fell into a bear trap from late last year.
As we reported , LUNA’s price value has plummeted significantly, with fiyadollarsar falling to $4.09 annually and losing $3 billion in market value. LUNA traded between $5 and $8 until mid-July before the bulls made a comeback at $10. According to analyst Olivia Brooke, the recovery would have been smoother if LUNA added another $5 to that price, and the DeFi token is on its way to the top, though still a long way from its all-time high of $22.33.
The other altcoin with a long way to go is named Chainlink (LINK)
The second altcoin project is Chainlink (LINK). DeFi top player Link shares a similar story with LUNA. It’s the same as reaching the top and bottoming out for a new year, a perfect summary of LINK’s timeline. The expected closing price for DeFi’s flagship this year was $100.
The estimates were unanimous before LINK dropped from $52 to $15 in May. The unexpected bear market stifled bullish predictions, but since August, LINK has corrected weekly losses, gaining over 16% at time of writing as the price remains at $24. According to analyst Olivia Brooke, while the $100 levels may take longer than expected, we may not see Chainlink below $18 if the bulls remain consistent.
Analyst Olivia Brooke states that at the moment, altcoin prospects are in good shape after the bloodbath, and the market should remain stable at current valuations before alt season begins this quarter.