Painful process for altcoins: will the decline continue?
Ethereum (ETH) has been shaken by the decline of Bitcoin (BTC), creating a huge danger for the cryptocurrency market. The decline of altcoins has frustrated crypto investors due to the depreciation of ETH and the increase in BTC dominance. As Bitcoin halving approaches, the volatility of crypto will increase. What factors need to follow?
Ethereum selling pressure is driving altcoins, and although Bitcoin has not seen a significant decline, Ethereum with a large volume has posed a threat to altcoins. ETH will loosen up to $3,300 and start to make crypto investors think. Although there are still 17 days to the halving, the trend of crypto is still bad and has not shown signs of recovery yet.
Altcoins may see greater sales if there are negative developments in the spot ETH ETF, BTC continues its downward trend or BTC dominance increases. In this case, a decline to $3,000 – $2,750 and $2,534, respectively, is possible. In an uptrend, a move to $3640 – $3934 and $4373, respectively, is possible.
In the period of Ethereum’s rise, it is important to follow the trend first. The trends that crypto investors focus on first may push cryptocurrencies in this space to higher levels faster. As an example of current trends, we can say memecoin, artificial intelligence (AI), and RWA. The demand for these three trends may be faster than other categories
