Quote from: tygeade on Today at 08:38:03 AM

Quote from: uneng on November 04, 2024, 05:12:14 PM

It could be that such altcoins are just shitcoins, or it could be that the effect of Bitcoin pump over altcoins take a longer period of time until happening for real. Altcoins are benefited by Bitcoin's fluctuations, as we have been seeing each new season of crypto market, however altcoins are more likely to perform nicely when we start reaching close to the peak or end of the Bitcoin bullish run.

On the other hand, it's also possible that the trend of the market changed this time. There were many investors hopeful of seeing altcoins gaining 1000% - 10000% in price, so it would mean their chance to get rich overnight. And when many people expect something to happen in crypto market, then it doesn't happen at all. The most profitable opportunities are hidden and not explored by the majority. Once majority starts exploring it, then the opportunity gets dried.

The bull run that we had in 2021 made that adamantly clear that bitcoin is the one that goes up first. So when bitcoin is doing fine, people end up investing into bitcoin, because they believe that we are going to end up with bitcoin profits first. So when the time comes, we are going to end up with a good return one way or another.

So all in all, I believe we are going to see this changing, because when they realize they made enough profit with bitcoins increase then they will just end up with a better result one way or another via altcoins or will start to look for that. This is the way to go and we should not be shocked about it, we should be considering that as the most possible way for the future. So we are waiting for bitcoin first.

It's the BTC dominance period upon us due to elections and overall mood + the cycles going as they usually go.
When it ends, money may flow back more into alts and make their prices bigger.
Roll Eyes