The cryptocurrency market is experiencing dominance dynamics between Bitcoin and altcoins. Renowned expert Dan Tapiero predicts a rally for altcoins soon.
Undervaluation of Altcoins
In a recent update to the crypto community, Tapiero analyzed the total market capitalization of altcoins. He observed that despite new project launches since 2018, growth has not been substantial. "The crypto market cap excluding bitcoin and ether hasn't changed from '21 peak, just slightly above '18 peak," he remarked.
Prospects for Altcoins
Tapiero argues that the current undervaluation of altcoins cannot last and expects a major rally soon. He points out various innovations like stablecoins, DeFi protocols, NFTs, and tokenization of real-world assets that should have contributed to sector growth.
Analyst Opinions
Other analysts echo Tapiero's sentiments. A recent Coinbase Institutional report suggests a potential altcoin season, where up to 75% of alternative crypto assets might outperform Bitcoin. This reinforces a shared optimism regarding future altcoin growth.
The undervaluation of altcoins, coupled with numerous investments in innovations, implies a possible return of altcoin season to the cryptocurrency market. Significant changes and updates in the sector could be key triggers for future growth.
