Alternative coins or altcoins have been slowly bleeding over the last two years. This is especially true for altcoins in their bitcoin (BTC) pairs. Many are down by over 90% from their all-time highs. Some mid-cap coins have even breached their historical support levels and are printing fresh lows on an almost daily basis.
The drop was so deep that some retail traders had to cut their losses after months of HODLing. For experienced traders, watching retail investors capitulate is always a good sign. It indicates that the bottom is around the corner. This is perhaps one of the reasons why some widely-followed accounts on Crypto Twitter (CT) are starting to be bullish on altcoins.
Big accounts on Crypto Twitter that have been quiet on altcoins are now starting to speak up. One in particular is Crypto Bitlord, who has over 100,000 followers. The pseudonymous account tweeted. Crypto Bitlord is not the only big account that’s feeling bullish on altcoins. Crypto Rand has over 200,000 followers. Crypto Loomdart, who has over 90,000 followers, is also bullish on altcoins.
The famous The Crypto Dog is also bullish. These four traders are just the tip of the iceberg. There are many more CT accounts with huge followings that are shifting their sentiment from bearish to bullish. They may have a strong point.