đđIs Bitcoin's Increasing Influence Delaying the Altcoin Season? đđ
Bitcoin (BTC) maintained its dominance in the crypto market, reaching 58%. This shows that the altcoin season has not started yet. A study conducted by Matrixport revealed that although there are more than 20 thousand altcoins in the market, investors' interest is still focused on Bitcoin.
According to the Matrixport report, altcoins cannot be supported significantly even though Exchange Traded Funds (ETFs) have entered the market. The main interest of investors is directed to Bitcoin; this causes altcoins to fail to catch a major uptrend in the markets.
In addition, the fact that small investors have not yet been strongly involved in the market stands out as one of the reasons why Bitcoin has attracted more attention compared to cryptocurrencies. The report draws attention to the fact that Bitcoin's transaction volume will increase from $10-20 billion in 2023 to $20-40 billion in 2024. This increase further strengthens Bitcoin's impact on the market.
Experts state that Bitcoin is one of the best investment options in the cryptocurrency market in terms of risk-adjusted returns. Matrixport's findings show that Bitcoin remains at the center of the crypto market and that the altcoin season may start later than expected.
While investors' ongoing interest is directed towards Bitcoin, it seems that the right conditions have not yet emerged for altcoins to come to the fore. This indicates that it is difficult for the altcoin season to occur in the near future.
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