As Bitcoin remains below the $100,000 mark, attention turns to altcoins with experts expecting an upcoming rally.
Current Bitcoin Situation
Bitcoin has struggled to surpass its all-time high of $108,135, remaining below $100,000. This raises uncertainty about its next move. However, some analysts suggest that current market conditions favor altcoins.
VanEck Experts' Recommendations
According to VanEck analyst Matthew Sigel, investors are increasingly focusing on altcoins due to their potential in decentralized finance, gaming, and NFTs. With Bitcoin's lower dominance, altcoins have better chances for growth.
Captain Faibik's Analysis
Crypto analyst Captain Faibik confirmed the start of the altcoin season based on technical analysis. He noted Bitcoin's dominance breaking out of a rising wedge, indicating a long-awaited altcoin rally. This suggests altcoins are ready to outperform Bitcoin.
As Bitcoin's price correction continues to make news, more attention shifts to altcoins, which are already showing a change in market sentiment. Rising interest in decentralized finance, gaming, and NFTs creates a favorable outlook for the altcoin market.
