What's Happening with Alt Coins in Crypto Market
Hello and Namaste Everyone
The bitcoin price is good these days. It has crossed its last time all-time high price but is still struggling to create a big new all-time high however it is expected that this can happen within this year. It looks like the BTC is in a better situation but has no impact on altcoins. Ethereum has done a small rally because of its spot etf approval but this is not so big. Maybe it can do a rally but can't say if this will happen in the next few months.
Just after the etf approval, the ethereum price was down. We have seen a similar price movement with bitcoin also when its etf was approved. The ethereum etf approval is big news and it will bring more money to ethereum but seems this will take some time as we can not expect an instant impact. We are in an early bull run cycle where only bitcoin is showing a good move but other coins are not.
Altcoins in the Market
I have taken these snapshots for the last eight coins which are on top according to market cap. This list has got two stablecoins but apart from that other points are still not in big rallies and you can see that prices in one hour or 24 hours and even 7 days or not much increased. It's like even after spot ETF is approved for Ethereum then also the impact is not visible in the market probably because the process is going to take some time.
Maybe we can say that the rally for all coins has not started yet and even if the coin is preparing for the bigger move we need to be ready and give it some time which can be the next few months. People are expecting that the next bull run cycle is going to start this year and we will see a significant rise in the market by the end of this year or maybe next year. We are surely not in a bull market but we're not in the bullets sentiment also. I think we can call it a bull market only when we see is fantastic price rally happening around but apart from Bitcoin, nothing is happening like that.
Investors have invested money in different projects and maybe now can be a good time to accumulate as much as possible with the possible potential in future. Many trends are going on in the market, including RWA and AI projects. We can't ignore Defi and gaming because both are expected to do well this time also. The gaming sector can become another big segment in the market and we have seen the last time how it has done in the past but looks like it will be even bigger so can be a good opportunity for all of us to be part of and reap the benefits in the upcoming bull run Cycle.
It is still in the accumulation zone where we can figure out some of the projects that look potentially valuable and strong so we can buy some and try to buy at a lower price through dollar cost averaging if possible. I have got some coins at a lower price. It's not a big investment because I'm not a whale or big investor but I did some with the hope that it will bring good profit on my investment and my horizon is for one year.
Thank you so much
Stay Safe
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Currently, the cryptocurrency market is in a period of preparation, awaiting a significant movement that many believe will occur in the coming months. While we have not yet seen a substantial rally across all coins, especially compared to Bitcoin, this is a crucial time for investors to prepare for the next bull run.
It is important to note that, although the market is not experiencing an intense bull run, it is also not in a severe bear phase. We are in a period of relative stability, where prices are consolidating, and the market is adjusting. This scenario provides an excellent opportunity for investors to accumulate assets that have future growth potential.
Several current trends in the cryptocurrency market indicate promising growth. Projects related to Real World Assets (RWA) and Artificial Intelligence (AI) are gaining prominence, showing great potential for innovation and returns. Additionally, the Decentralized Finance (DeFi) and blockchain gaming sectors are also poised for notable performance. The gaming sector, in particular, has shown impressive growth in the past and is expected to expand even further.
For investors, this means an excellent opportunity to participate in these emerging trends. Accumulating assets now, during this period of preparation, can result in significant benefits when the market enters its next bull run. Diversifying into promising areas like DeFi, AI, and gaming can be a smart strategy to maximize returns.
In summary, we are in a period of anticipation and preparation in the cryptocurrency market. While the rally has not yet started for all coins, the current scenario offers a valuable opportunity for accumulation and investment in projects with significant growth potential. Preparing now can enable investors to make the most of the next bull run in the market.
Patiently waiting for the alt season.