After reading few posts on this forum today I became confused because and I decide to let it out to get answers in return, is it possible for altcoins to grow (altcoin season) without Bitcoin? I'm not talking about pumps like if a coin get burned off it's max supply or if listed on binance and other top exchanges, I'm talking about every altcoins surging on their own without Bitcoin taking the first step...
Share your thoughts, I would love to hear you out
I think this is possible, but the coin developer must find as many investors as possible. Because with so many investors who are ready to support the project, the value of selling coins or tokens will increase. In addition, the project must have a real product that can be exchanged for coins. Every successful project doesn't just sell ideas on social media. But they also sell products.
After such a fall in stock markets and the collapse of the global economy. I am sure that this is the end of many cryptocurrency projects. I think that many Altcoin from the Top 100 will lose another 50% of their capitalization.
Yes, for Altcoin at this time it is very difficult to increase prices. Although Bitcoin and several other top coins have increased. I see altcoin is currently very dependent on the price of Bitcoin. If we examine in more detail, there is almost no increase in prices on altcoin. It's just that the chart changes to green due to the Bitcoin chart and some of the top altcoins are increasing.
indeed for now the price of altcoin depends on Bitcoin, because all holders focus on bitcoin, see the dominance of Bitcoin increases, there will be a time when dominance will go down and altcoin can go up without Bitcoin
Bitcoin dominance could be fluctuating, but despite that, most altcoins no matter how low dominance is, which for some time now has not gone below 50%, will still depend on bitcoin.
It has been long altcoins grew independent of Bitcoin and that was in 2017 and perhaps early 20818 and it is hard for such to happen now.
The only factor that could result into that is if bull run is truly approaching, then we might see history repeating itself again.