Bitcoin is around 60% since the turn of the year, and while that doesn’t necessarily signal the end of the crypto winter, it’s a sign that investors who have been holding off on the world’s largest cryptocurrency may have missed their chance to buy in while it was undervalued.

However, there are still plenty of explosive opportunities in the crypto market for investors who are willing to look beyond Bitcoin. We’ll take a closer look at Bitcoin’s price and highlight 5 emerging altcoins that could generate massive returns in the weeks and months ahead.

Bitcoin Momentum Stalls, Some Analysts See Bearish Move Ahead

After a year of crypto winter, Bitcoin had an impressive start to 2023. The token gained more than 80% in the first four months of the year and briefly broke through the key $30,000 price level in mid-April.

However, bullish momentum in BTC has stalled in the past month. Bitcoin has been unable to remain above $30,000. Instead, the token has remained in a range between $27,000 and $30,000, with the price recently sliding to $26,250.

Some crypto analysts see this as a worrying trend for Bitcoin. If the token can’t firmly break through resistance at $30,000, it is likely to fall to its next support level around $23,000 – that would represent a 12% loss from today’s price.

The macroeconomic picture for Bitcoin is equally uncertain. Although a pause in interest rate hikes by the US Federal Reserve is widely expected to be positive for BTC, continued high rates and fears of a recession have turned investors away from cryptocurrency.

At the same time, BTC faces increasing scrutiny in the US and abroad for the energy required to mine it. New restrictions on mining could make BTC less accessible and decrease demand for the token, thus holding down the price for the foreseeable future.

All of these trends suggest that while Bitcoin may still be well below its all-time high, it’s more likely to go through another round of bearish price action before it surges, with a true crypto bull run not expected until 2024 wi