#BTCvsMarkets
Will the price of Cardano rise with the start of a new altcoin season?
According to Elon Money's account on X, macroeconomic conditions are not yet conducive for the emergence of a new altcoin season. Rather, it is likely that the current macroeconomic landscape characterized by stable inflation and a weak US dollar will deter small investors from investing in high-risk altcoins like Cardano.
The VIKTOR account on X agrees with this opinion, believing that altcoins are still in a bear market, noting that he will increase short-selling positions on altcoins as Bitcoin (BTC) surpasses the $90,000 level again.
In fact, these views align with the idea that an altcoin season requires a favorable macroeconomic environment for a genuine breakout, or more precisely, a massive liquidity injection from central banks - specifically the Federal Reserve - into the markets.
However, such a liquidity injection into the market - which we saw in 2020/2021 - alongside a noticeable improvement in the state of the economy (necessary for an altcoin season) remains a distant possibility at present. The US economy is now at risk of slipping into recession due to increasing economic uncertainty and declining US government spending, a trend driven by the Department of Government Efficiency (D.O.G.E).
