The positive response of Altcoins in the crypto market begins.
Greetings to all readers of this great platform, especially to those who make life within the great community of #ProjectHOPE, in the present opportunity I come to talk a little about the crypto market and the behavior of Altcoins, with which seems to start a new market for them, generating positive responses against the situation or behavior of Bitcoin in the current moments of the crypto market.
Screenshot taken at: Coingecko |
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In the crypto market so far this year, we have seen how the Bitcoin has had an upturn in its price, despite this, the Altcoins have grown in smaller proportions to the growth of Bitcoin, a situation that has not allowed to grow at a similar pace, and which may be due to several factors, one of them that most of the economic income generated by the crypto market is being generated through income in Bitcoin.
With this market situation tends to increase much more in proportion this currency than the rest of the currencies that make up the blockchain, a situation that has been maintained throughout the year, but after many moments like this, it begins to react differently in market, because usually when the Bitcoin generated some kind of setback, the whole market did so and with a higher proportion than the Bitcoin in terms of percentage loss of value.
On the other hand, when the Bitcoin was growing, as I told you before the proportion of growth of the rest was much less, currently the bitcoin apparently got that stability zone before continuing its way, zone that is between 91k and 99k approximately in terms of its market value, but the most striking thing is what happens in many Altcoins now.
The bitcoin is making those moves in search of its support and these pullbacks are not taking the price of Altcoins down, the Altcoins are holding and growing bit by bit as bitcoin finishes stabilizing, so we are seeing the first good reaction from the Altcoins for the bull market we may face at least the first half of next year.
We are definitely about to enter the altseason in the next few months and it is just a matter of time