Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: Rasta99 on August 02, 2020, 04:15:43 PM
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Bitcoin has finally woken from its two-month slumber, as well as interest in the number-one cryptocurrency along with it. Bitcoin futures trading is bustling again, with both volume and aggregated interest at their highest since the March market crash. So, with all the action going on in Bitcoin (BTC), does this mean that the altcoin season is coming to an end?
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I'm also still thinking much about this. I see the sign that altcoins have a chance for a bullish day after the Bitcoin price rises up and now starts to drop. Investoras may analyze the chance for alternatives coins to have more profits after Bitcoin has no longer positive move in price. However, I think we need to analyze the market trends for several days or even weeks to ensure the next crypto price move.
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Be great to hear about projects for domestic adoption of BTC and alts - we need "high street" adoption for payments with crypto.
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In my opinion, this time everything is going great for altcoins. The current rise in the price of bitcoin is characterized by a simultaneous gradual decrease in the level of capitalization of bitcoin. Now the level of its capitalization is 60.4 percent. This is one of the lowest rates in this matter. Against the background of the growth of the cryptocurrency market, this means that a significant part of the investment goes to altcoins. Of course, a significant portion of the investment now goes to ethereum. This coin is currently receiving special attention on the eve of its improvements. But all other altcoins are also showing impressive price growth results so far.
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Of course, this does not always happen. In 2017, the entire cryptocurrency market grew, both bitcoin and altcoins. After that, we saw a rise in Bitcoin and a simultaneous decline in the price of altcoins. Bitcoin is also growing alongside altcoins this year.
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The altcoin season is not over with the ground for bitcoin acquisition but the price of both currencies is rising. 2017 is likely to be more than what it was. Because after halving the price usually tends to increase. The amount going down is very low. The season of rising currency prices has begun and with it the demand of the crypto market is increasing. Each coin is pumping at both rates.
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The progress of BTC price is now likely sideway, where the up and down price movement is not that kind of high, it is sideway. However, it is better than some months ago. BTC right now hits $11,649.19, still very difficult to reach and maintain its rate at $12k.
We do not know what will happen next, moreover, right now, it is likely competed by the newcomer, YFI. With this condition, it should be altcoin seasons increasing higher again. But in fact, some coins are decreasing.