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The rise of altcoins largely depends on the market cycle and Bitcoin’s takeover. Currently, with Bitcoin’s takeover reaching 61.44%, altcoins are struggling to make a strong rise. However, there are expectations for their recovery in the future according to some of the following scenarios:
1. Bitcoin acquisition decline:
• Historically, altcoins start to rise when Bitcoin’s holdings peak and then decline. This change is known as the start of “altcoin season,” where liquidity moves from Bitcoin to other currencies to achieve relatively higher profits.
2. Bitcoin Stability:
• If Bitcoin stops rising or starts moving in a stable price range, investors tend to look for opportunities in altcoins, pushing them higher.
3. Positive market events:
• News or developments related to altcoin projects (such as the launch of new networks, partnerships, or technical updates) contribute to raising their prices even with Bitcoin's high dominance.
4. Institutional motivation:
• As more institutions enter the cryptocurrency market, we may see new investments targeting altcoins with strong applications and innovative technologies, leading to their rise.
Expectations:
• Altcoins may start to rise after the next Bitcoin halving in 2024, as demand for other, less expensive currencies may increase due to the limited supply of Bitcoin and its increasing value.
Note: The market is very volatile, and any movements depend on multiple factors such as liquidity, regulatory policies, and investor trends. Monitoring the market regularly is essential to predict upcoming movements.
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