Altcoins to boom this summer (from top adviser)

[SUMMARY] Price predictions for alt coins from Wall Street advisers.

The first 10 weeks of the year were hard on a lot of cryptocurrencies. Many thought prices weren't going to rise to previous all time highs again but after weeks of increasing prices confidence is returning.

"The altcoin bloodbath may finally be nearing its culmination, but small-cap coins will likely spend the next quarter in 'purgatory' as they await a late-summer bull market."

The quote above is from market strategist and Bitcoin bull Tom Lee, whose firm Fundstrat Global Advisors was the first strategy firm from Wall Street to recommend cryptocurrencies to clients.

“We believe the current purgatory period will last for 150-175 days, implying a bull market for alt-coins really starts mid-August to mid-September,” Fundstrat wrote in a Tuesday note to investors, according to a Bloomberg report. “The reason for this longer duration is the current dark clouds overhanging crypto are really alt-coin specific.”

This may not seem like brilliant news for short to mid term trading but is obviously very good news for those hodling for the long term.

It's also worth noting that Fundstrat has predicted the price of Bitcoin will hit a new all-time high as soon as July and could reach $91,000 within two years.

P.S. I am not saying go and invest without doing your own research. These are my views but I do not offer investment advice. In general crypto is not considered a safe investment yet anyway so please only invest wisely people.

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