The rise in Bitcoin prices could trigger significant movements in the altcoin market in July 2023. The potential rise of Bitcoin to its historical maximum creates favorable conditions for altcoins.
Overall Trends in Bitcoin Market
Predictions suggest that Bitcoin may surpass its record of $111,900, which could lead to further altcoin growth. Historically, many altcoins perform better during a strong Bitcoin surge.
Key Altcoins for Investment
We consider three altcoins that could show significant advantages if Bitcoin rises:
1. **Sei (SEI)** - Strong fundamentals and technical indicators make Sei one of the best options available. In the past month, the number of active transactions increased by 136%, indicating growing interest.
2. **Binance Coin (BNB)** - This altcoin stands out with strong metrics; in June, the number of transactions increased by 152%. High staking yields also attract attention.
3. **Hyperliquid (HYPE)** - Increasing market share in perpetual trading and a growing total locked value underscore the appeal of this coin.
Potential of Other Altcoins
There are many other altcoins that could rise in value if Bitcoin grows. Meme coins like Dogwifhat and Fartcoin, as well as utility altcoins such as Quant and Chainlink, may also demonstrate growth.
In conclusion, the rise in Bitcoin's price could positively impact altcoins. Investors should closely monitor the market and consider the main trends for selecting optimal assets.
