Are altcoins ushering in a bargain hunting opportunity? Bitcoin capital overflow may drive bull market
After Bitcoin hit its all-time high price of $69,350, it then ushered in a sharp correction of nearly 10,000 points. Altcoins fell by more than 30% on average, and the market was bleeding.
Now is the time to give altcoin holders a shot of confidence (an infusion of real money from big institutional investors in Bitcoin itself).
Frankly speaking, only now can we really feel the atmosphere of the coming big bull market. Before that, Bitcoin had been performing alone.
This sharp correction may mark the beginning of the overflow of funds within Bitcoin. Bitcoin already accounts for 53% of the market value of the entire cryptocurrency market. With just a little overflow of funds, other altcoins may be ready to take off. Wealth storm.
The current market value of Bitcoin has exceeded 1.3 trillion US dollars, which has exceeded the global market value of silver. Facebook META, the amount of funds required to increase again will increase exponentially.
Therefore, it is very natural for investors to use part of their funds to boost prices and harvest some high-quality altcoins.
Market review:
Bitcoin pulled back after a sharp rise, and altcoins fell sharply.
After Bitcoin recently hit its all-time high price of $69,350, it started a round of correction, falling as low as around $59,000. During this period, the decline of altcoins was even more severe, with most currencies falling by more than 30%.
Analysis: Bitcoin funds are overflowing, which is good for altcoins.
Bitcoin is the ninth largest asset in the world by market capitalization. Therefore, some funds may flow out of Bitcoin and enter the altcoin market, which is undoubtedly good for the altcoin market.
Strategy: Build positions in batches and invest cautiously.
Although altcoins may usher in bargain-hunting opportunities, investors still need to be cautious.
It is recommended that investors build positions in batches, do not stud, and be prepared for a second dip.
some advices:
Choose quality altcoins to invest in. Don't blindly chase the rise and fall, and do good risk management. Only invest money you can afford to lose.
Conclusion:
Risks and opportunities coexist in the altcoin market, and investors need to invest cautiously.
