The expected development in the cryptocurrency world has occurred and Bitcoin has reached a new peak, leaving its all-time high (ATH) behind. This record, which came after a long break, created great excitement among investors.$BTC
Thanks to the positive market sentiment that has been going on for weeks, Bitcoin made history by breaking its previous record. This rise has raised debate among investors and traders about whether a new bull season has begun.
What Were the Factors That Triggered Bitcoin's ATH?
Donald Trump’s victory in many critical states during the US election process was one of the factors that moved Bitcoin prices. This development created uncertainty and volatility in the markets and led to an increase in the value of Bitcoin.
Bullish Signals in the Crypto Market
Bitcoin reaching its new peak also had a positive impact on the altcoin market. Similar upward movements are observed in Ethereum and other large-cap altcoins. Investors expect that there may be a flow of funds into other cryptocurrencies after this new peak in Bitcoin.
However, according to expert investors and analysts, if Bitcoin's dominance continues to remain at high levels, the increases in altcoins may be limited. Since Bitcoin Dominance shows Bitcoin's share in the entire cryptocurrency market, the higher this rate, the more altcoins can fall behind.
Beginning of a Bull Market or Short-Term Correction?
Bitcoin reaching ATH has caused enthusiasm in the cryptocurrency market to increase. While some experts say this rally could be the start of a long-term bull market, others warn that short-term corrections are possible. As the market rises again, investors should proceed with caution and plan their next steps well.
Bitcoin is trying to hold on to this level after its rise. Bitcoin Dominance is above 60%, which shows that the expected increases in altcoins may take a little more time. This indicates that investors' interest in altcoins may remain limited for now.