Largest Altcoin Season to Start This Week

Renowned basketball player Scottie Pippen has addressed his army of followers on the social network X, making an ultra-bullish crypto market prediction. He named the date when he believes “the biggest altcoin season” will start.

Pippen is known on crypto X for his tweets as someone who Satoshi from time to time visits to talk to while Pippen sleeps at night.

“Biggest altcoin season to kick off”

The NBA veteran tweeted that, according to a “rumour”, the largest altcoin season in history should begin this week. Particularly, on April 20, Sunday. Providing a basis for his prediction, Pippen said that historically, altseasons start approximately 340 days after the Bitcoin halving.

The most recent one took place on April 20 last year and it was the fourth BTC halving event. When it happened, the block reward was once again cut in half and reduced from 6.25 to 3.125 BTC for miners.

This event was of a high significance to the global crypto community since halvings reduce the generated Bitcoin supply and strengthen Bitcoin’s scarcity. Prior to the halving, in January last year, the SEC approved the launch of spot Bitcoin ETFs. Once launched, they began a rigorous accumulation of BTC to back their ETF shares with the underlying asset.

These two events – the release of the ETFs and the Bitcoin halving – were expected to become two great Bitcoin price drivers last year. Gradually, thanks to the ETFs, the amount of BTC in circulation has been greatly reduced as they began to absorb hundreds of millions of dollars worth of Bitcoin per day. The largest ETF, BlackRock’s IBIT, currently holds roughly 570,000 BTC. The second largest corporate holder after it is Michael Saylor’s firm Strategy.

“I’m bullish on ETH,” Scottie Pippen says, Justin Sun agrees

While talking about the altcoin season, the basketball legend also stated that he was bullish on the second largest cryptocurrency Ethereum. But he admitted that he is building his own crypto project to do with, AI, gaming and RWA (real-world assets) on this platform.

Tron founder and billionaire Justin Sun has expressed a similar opinion on Vitalik Buterin’s brainchild. In a tweet published on Thursday, Sun stated that Tron does not plan to sell its ETH holdings. He added that Tron will “continue to seek opportunities to collaborate with more Ethereum developers and build our industry together.”