**Bitcoin and Altcoin Market Update**
For those buying altcoins thinking the bull market is starting, let's take a closer look. The cryptocurrency market has been around for over a decade, and many people have noticed that Bitcoin tends to follow certain cycles. We are now possibly entering the fourth cycle, and some expect both Bitcoin and altcoins to rise.
Recently, more people have begun buying altcoins again, assuming they'll benefit from a market upswing. While this makes some sense, it's not entirely accurate. Typically, when Bitcoin's price goes up, investors make profits and then use those gains to buy altcoins, which drives their prices higher. This is why Bitcoin's dominance in the market is a key indicator.
However, trading volume across the crypto market is currently quite low. Many who bought Bitcoin between $40,000 and $60,000, including those who invested in ETFs, are likely holding onto their assets. It's uncertain whether they'll sell their Bitcoin to buy altcoins and boost their prices.
While it would be ideal for increased trading volume to drive up altcoin prices, I don't believe we're in an altcoin bull market just yet due to limited capital. That said, buying altcoins now could still be a good move for future gains.#Write2Earn! #bitcoinâïž #writetowin
