With the market rising high, there is hope that Bitcoin might reach a new ATH. Being a chartist, I am expecting a new ATH soon, and this ATH will usher us into the bear market proper.
A new all time high for bitcoin should be a preparatory for the bear market. If we are able to record an all time high for bitcoin twice, even if the expected price is not reached, it would only mean that those that hold on may just be greedy to sell or will wait till next bull cycle to sell.
In the last bull market, we saw the last ATH at Q1 of the new cycle, and now, we might be seeing it at Q2 of this new cycle. While Bitcoin is likely to hit a new ATH, altcoins won't do too much especially ETH, but they will dip more.
You have a very good point about altcoins, I don’t also think they will do well as they’ve done in Q1 when bitcoin reached a new all time high. The alt season that many have been clamouring for may happen but not as they are expecting for it to boom will it be, but they can still get some coins to pump but on a low key pump trend this time around. Ethereum seen as the kings of altcoins may not also perform well, so it sends a signal to other alts that expectations should be reduced in order not to feel disappointed at that time.