Altcoins are currently showing strong signs of a potential upsurge, with several factors pointing towards a promising rally. Historically, altcoins tend to surge around 1,065 days after Bitcoin's previous peak, and we're approaching that timeline in October 2024. Market analysts predict that we could see substantial altcoin growth following Bitcoin's rise.
Bitcoin dominance, which measures Bitcoin's market share compared to the total cryptocurrency market, is currently around 55-60%, and it's expected to drop slightly by the end of the year. This could open the door for more capital to flow into altcoins. Notably, projects like Stacks (STX), THORChain (RUNE), and Fantom (FTM) are being closely watched due to their recent upgrades and technical improvements. Stacks, for example, has seen a 20% rise recently, and the introduction of sBTC could further boost its price.
As we approach the end of 2024, many altcoins are poised for growth, particularly those with strong fundamentals and upcoming technological advancements. This is a good moment for investors to monitor market movements as we head deeper into this anticipated rally phase.
