Participants in the crypto community continue to wait for altsyzone. The market drop after small growth on the positive statements of the head of the Fedi at the key interest rate of the United States on August 22 intensified excitement.
We tell you where the altsyzon was lost, whether there are hopes for his arrival and what forecasts are given by crypto -investors.
The cryptocurrency market in this cycle did not have time to plunge into the altsyzone. At the time of writing the review, the CoinmarketCap altcoins market indicates that investors are more concentrated on bitcoin than on alternative coins.
At the same time, there are some signals that leave hope for an early onset of altsyzone. One of them is a decrease in bitcoin dominance. At the end of June, BTC occupied about 65% of the market. At the time of writing, the Bitcoin dominance level dropped to 57%. The main altcoin, Ethereum, strengthened his position for the same time from 9% to 14%.
Ethereum has also recently grew more actively than bitcoin – this is another sign of the rapid approximation of altsyzon. Recall, on August 24, ETH finally updated the absolute maximum of $ 4,953. The previous high was recorded in November 2021. Despite the active growth of the cryptocurrency, the broadcast for a long time could not update the maximum.
Also, Timing speaks in favor of the early offensive of Alseson. Bitcoin once again updated the maximum of August 14, after which he “lost the way” to the altas.
Altsyzone’s onset of large sales interfere. For example, according to the calculations of the analyst Ted Pillus, last week, the outflow of Ethereum-ETF exceeded $ 240 million. Analyst Quentin Francos, in turn, drew attention to the fact that the market is far from overheating. According to his observations, the crypto industry is far from euphoria, which means Bullran is not yet completed. He also drew attention to the fact that large investors against the backdrop of a market fall switched to active purchases. This behavior of whales, in his opinion, indicates preparations for Alseson. Altcoins themselves today, according to the analyst, look resold.
The Rekt Fencer trader is sure that the impulse will switch to other coins for updating the Ethereum maximum. Therefore, he considers the new peak ETH.
However, some market participants are tired of waiting and reconciled with the idea that in this cycle they would not wait for Alseson.
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Source: Cryptocurrency
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