- Sheldon Evans believes that April will be Altcoin month
- The crypto analyst used charts and market news to support his prediction
- Many exciting Altcoin projects have been announced for April
Popular YouTuber and crypto analyst Sheldon Evans is predicting that Altcoins will surge in April. In a recent 20+ minute long video the analysts outlined why he believes a surge is imminent.
In the video, Evans first analyzed some charts before moving on to some market news. Actually, Evans conducted a chart analysis for Bitcoin and Ethereum. In the analysis, Evans noted that March is typically a bearish month for the crypto market based on past data. However, this year BTC broke the trend and even set a new ATH.
Evans believes that this divergence from the norm is a strong bullish sign. In fact, he went on to say that BTC needs to reclaim its 20-day moving average before the end of the month. If the top crypto manages to end the month above its 20-day moving average it could show a strong upward trend in April.
Further, Evans noted that April is usually a bullish month for Altcoins. Evans stressed that Altcoin moves in cycles with peaks in January, April, July, and October as shown below.
In fact, Evans is so bullish on crypto as a whole he believes that the future of crypto is not hierarchical. Evans believes that in the future different crypto projects will work together through cross-chains and multi-chains.
This is something we have already started seeing especially with Layer 2 projects. For instance, recently Ethereum scaling solution provider Optimism created an Optimism Dai Bridge in collaboration with Maker Dao. The two created the bridge to solve the Optimism withdrawal problem.
Evans also noted current altcoin news that he believes is bullish. The news includes:
- OGN’s listing on Gate.io Exchange
- The Cardano Africa deal which is expected to drive mass crypto adoption in Africa.
- The current NFT craze, for example, Cardano reporting that it is now exploring building an NFT marketplace. Also, Crypto.com CEO Kris Marszalek also predicted that NFT and institutional money will draw the next 100 million crypto users.
- Trustswap also announced a long list of projects for April.
– March 24th https://t.co/HkPnahIYY4 Binance Smart Chain integration
– March 25 DCTDAO Golden Ticket Winners
– March 26 DCTDAO Flashlaunch
– March 29 Partial Unstake Goes Live
– March 29 Launchpad Farming Pools
— TrustSwap (@TrustSwap) March 22, 2021
Uniswap’s V3 launch. Of note, the V3 launch video recently sold for 310 ETH worth over $500, 000.
In conclusion, it is clear that Evans did not make this prediction lightly or on a whim. The top analyst did his research and was able to back up his claims with facts. For this reason, it is likely that April will indeed be an exciting month for Altcoins.