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The post Bitcoin V/S Altcoins! Bitcoin Will Eat Altcoins Volumes This Season? appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide

Bitcoin is ruling the market charts, while altcoins fall shy of the star crypto’s dominance. BTC Price at press time is valuing at $57,348.96, with gains for the past 24-hours at 1.7%. The coin has managed to climb above its previous support levels. The next major resistance for BTC is around the $58,000 mark. The coin needs to close it, before heading towards its previous ATH.

The top-tier altcoins have fallen on the charts. While the second-largest crypto values at $3,453.26, with a dip of 3.1% in the last 24-hours. Cardano Price is trading at $2.10, with a dip of 4.8% from the previous day. Other altcoins are following a similar trend, while smaller coins plummet harder. The crypto market cap has shed off around 1.7% in the past 24-hours at the press time.

Bitcoin chart

Bitcoin crossing its next big resistance would be worrisome for altcoins. Analyst mentions, the escape plan would be to liquidate, as the target nears. And hold on to the bags, to buy some dip at the entry zone.

Another analyst advises the buyers might have to be conservative with altcoin purchases, at this stage. As the price might dip further, with rising Bitcoin dominance. However, past experiences suggest the cycle to be repeating. The irregularity with the movement of altcoins with respect to Bitcoin is possible because of the fact that people are eager to trade off their altcoins with BTC.

Traders need to watch out for pairs of BTC against USDT, ETH/BTC, before entering the market. In addition, it would be wiser for buyers to skip out on smaller coins. Until the bigger coins are done correcting, these tend to plummet harder. 

Collectively, the crypto proponent, Micheal de van Poppe, believes the market to mirror Q4 2020 and Q1 2021 again in the next 6-months. He also believes December/January to be the best time for altcoin shopping. We can expect a trend reversal in a similar fashion with ALT coins. Moreover, BTC will lead the pack, as the trend normalizes.

One thought on “Bitcoin V/S Altcoins! Bitcoin Will Eat Altcoins Volumes This Season?

  1. Seriously. A lot if not all the crypto people I interact with online tend to have this… smugness to them even if they don't expres it outwardly irl, mostly online. Like the space itself, and being a part of it, makes them like that, and it's kind of sad. Because it's really not hard to imagine why other people think less of cryptobros.

    It also doesn't help that lots of us are techbros, which already have a reputation for not being the most socially aware of people. But what do I know.

    Anyway, we should probably strive to be a little less punchable in the future. For our own sake.

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