Experts noted that the key condition for the start of the altcoin season is a sustainable decrease in the dominance of the first cryptocurrency. However, after the local minimum in mid -May, at the mark of 61.2%, the figure rose to 63.3%. At the moment, bitcoin is perceived by market participants, as the only reliable asset.
“This shows that the demand from investors is concentrated exclusively on bitcoin and, in particular, on the spawning markets, and not on derivatives with altcoins,” Matrixpor saidt.
Activity with altcoins is still at a low level, as well as speculative trade in futures with this class of assets. Despite the fact that the first cryptocurrency can go to the consolidation phase, it has more attractiveness, experts say.
In the absence of strong catalysts, the altcoin segment will continue to be in a state of uncertainty and falling of trade activity, analysts summed up.
Earlier, HTX Research experts reported that as the first cryptocurrency prices increase, the capital of investment funds begins to flow into strong altcoins.
Source: Bits
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