The crypto market is showing its positive side today. In recent weeks, things have once again grown and the price of Bitcoin has again dropped below the $ 10,000 mark. This has not only raised concerns about another burglary, but is currently for many a good entry point in appearance – to the "Buy the dip".
The price of bitcoins has been changing sideways for a few days now, leaving the Altcoins room for growth. Apparently, many did not say it twice and returned to the green zone. Here, some Altcoin courses could briefly gain more than 20%. These include Siacoin (SC), Matic (MATIC), Chainlink (LINK) and Holochain (HOT). Has the long-awaited Altcoin season come back?
A bitcoin course allows Altcoin pump courses
Anyone who opens his Portfolio Tracker today has certainly been positively surprised. The radiant green of the different Altcoins was without a doubt a magnificent sight. Many Altcoin courts have exploded today. True, it's only a drop of water in the bucket, knowing that it's been sloping for several weeks for the most part. But it's a sign of a possible recovery. Due to this evolution, Bitcoin dominance has decreased by 4% in two weeks and is currently around 66%.
The positive development of Altcoins in recent weeks is far from a sign of the Altcoin season. With each strong move of the Bitcoin course, whether it is low or high, the party can be over quickly. Because all cryptographic currencies depend on Bitcoin price performance. The different information on the respective projects also shows their effect. The crypto market is coming back to life.
Altcoin Season depends on the movement of the Bitcoin course
In the past, the strongest Altcoin seasons took place after unprecedented new highs for Bitcoins. Although many Altcoin prices also rose directly with the Bitcoin price, the most important returns were obtained in most cases after a new higher bitcoin price. Therefore, the question arises as to how long this green wave can last for Altcoins.
In yesterday's TA-Tuesday (technical graphical analysis), we have already discussed the current situation regarding Bitcoin prices, IOTA prices and ricochet prices and made possible short-term forecasts. Often, Altcoin prices only work well when the air is out of Bitcoin and the Bitcoin price is lateral.
Altcoin prices are on the rise
Many investors hold for different months Altcoins in the hope of a rapid increase. Some also opted for a lower average purchase price and a reduction in losses. At this point, any amateur trader is told that a stop-loss should be defined, so that in a sudden doldrums, short-term gains no longer dissolve in the air. A jump in the Bitcoin course puts the Altcoin season on the bench.
We strongly recommend that you do a detailed research before investing and not give up price increases in the short term. Greetings from FOMO (fear of missing).
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