#Alt Coin Era!!!
The tough times for altcoins might not be over because of big problems. These problems include not much money moving around, Bitcoin being the top dog while the world is unstable, and too many altcoins.
Even though some big altcoins could do well later, things don't look good for now. Here's why:
Data shows that people aren't interested in altcoins. CryptoQuant says that the difference between buying and selling altcoins in the last year is negative 36 billion. This means people have sold 36 billion more in altcoins than they've bought.
This could be because people are scared to take risks or don't think altcoins are good investments right now.
Analyst Burakkesmeci said, "Even though Bitcoin is doing well, altcoins are still in a bad phase. Unless this number starts going up, expecting a good time for altcoins might be just hoping."
So, for altcoins to do well, this number needs to go up or turn positive. The problems in the world, like the Israel-Iran conflict, are hurting altcoins.
When Israel attacked Iran, Bitcoin's price went down, but altcoins lost even more value. When Bitcoin does well, it gets all the attention and money, leaving altcoins behind. This has been happening all year. Bitcoin is doing very well, and is above 64%.
Some people think an altcoin season might have started in June, but the Israel-Iran conflict stopped it.
Investor Gem Hunter said, "Altcoin season almost started... Then the Israel-Iran war happened. Now Bitcoin is the biggest it's been in 5 years, far from altcoin season... We just have to wait and hope."
These world problems probably won't be fixed soon, so people will likely keep being careful with their money, which hurts altcoins.
There are also way too many altcoins.
CoinMarketCap says that by June, there were over 17 million altcoins – that's 850 times more than in December 2021. But the total value of all altcoins is still 30% lower than it was at the end of 2021.