Next is the world of altcoins, don't be in a hurry to scold me!
Since Bitcoin fell below $60,000 last month, altcoins have stopped falling, and it seems that altcoins are no longer constrained by Bitcoin.
When Bitcoin falls again, altcoins continue to rise, ignoring Bitcoin at all.
The reason is: since the altcoin market value fell from $1.26 trillion in March to $960 billion on June 24, it rebounded in July. In just a few days, the altcoin market rose 3% and returned to the $1 trillion mark again, currently at $1.025 trillion.
The relationship between the reversal of the altcoin market and Bitcoin is that Bitcoin rose 2.7% in the past week, and the price was sideways between $62,000 and $63,000.
In the past 24 hours, the trading range of Bitcoin has shown a bullish situation, which means that the bulls have driven the price in the closing of the weekly and monthly lines.
Combined with the above reasons, altcoins are expected to rise by 40%-50% this week.
This includes the increased ecological activity of SOL, which now remains around 145.
By analyzing the trend charts of Ethereum and Bitcoin, it can be seen that Ethereum may be about to break through.
Recently, many altcoins have shown rising potential in a longer time frame. Due to the strong RSI level and bullish divergence, the rising trend of these tokens is greater than that of Ethereum and Bitcoin.
In addition, the inflow of total funds and the strict requirements of the value market to review new coins have changed the overall sentiment for the better. The decline in the dominance of USTD indicates that the bottom of the market is forming, and the next big rise is on the way.
Among them, tokens such as ADA, RUNE, INJ, LINK, FTM, SOL and DOT have shown a significant upward trend in recent times.
It is expected that altcoins will usher in a substantial rise in the next week.
Now is a good time to ambush altcoins, and prepare in advance if the big cake fails to return to a high level. The game in the cryptocurrency market is getting more and more intense. Are you ready for the challenge?
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