Bitcoin confidently surpassed the $108,000 mark, raising interest in the future behavior of other cryptocurrencies, particularly altcoins. This article examines analysts' opinions on this matter.
Current State of Bitcoin Market
Despite weak trading volumes, the price of Bitcoin remains above $108,000. Analysts who have previously predicted significant movements forecast further changes in the market. Considering different perspectives can be beneficial for investors.
Altcoins: When to Expect a Rise?
Bitcoin continues to attract buyers near its all-time high, which is not the case for altcoins. Experienced investors know that as BTC reaches its maximum, liquidity begins to flow into altcoins, potentially driving their prices up. Recently, interest in altcoins has declined, which could indicate undervaluation.
Prospects for ETH and Other Altcoins
Ethereum, the largest altcoin by market capitalization, has not yet reclaimed the $2,500 level, hovering around $2,450. There is a noted increase in ETH short positions, which may indicate potential growth. Additionally, altcoins may rise if the Bitcoin dominance chart suggests a possible reversal.
The cryptocurrency market shows high volatility, and analysts' observations highlight potential growth opportunities for both Bitcoin and altcoins in the coming months.
