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Green Plum Boiling Coins: Bitcoin Approaches 100,000; Why Are Altcoins Still Motionless?
The price of Bitcoin has approached 100,000, and its market cap share has risen to around 60%, while altcoins remain at the bottom, unmoving. Is there still hope for altcoins?
My view presented in (The Ordinary Person's Cryptocurrency Trading Manual) is that the altcoin season is the result of capital rotation in the later stages of a bull market, generally occurring after Bitcoin experiences continuous large increases and capital overflows.
History always tends to repeat itself; let's take a look at history first.
On January 3, 2021, Bitcoin's market cap share reached 73.61%.
On January 8, 2021, the price of Bitcoin peaked at 42,000, rising more than tenfold from the bottom of 3,782 over 301 days.
My view presented in (The Ordinary Person's Cryptocurrency Trading Manual) is that the altcoin season is the result of capital rotation in the later stages of a bull market, generally occurring after Bitcoin experiences continuous large increases and capital overflows.
History always tends to repeat itself; let's take a look at history first.
On January 3, 2021, Bitcoin's market cap share reached 73.61%.
On January 8, 2021, the price of Bitcoin peaked at 42,000, rising more than tenfold from the bottom of 3,782 over 301 days.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
BTC
98,412.86
-0.15%
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