#BTC🔥🔥🔥🔥🔥 Remember from around April 2023 until now, BTC has continuously grown while the volume remains low. Technical analysts are quite worried because they believe this is an unsustainable price increase (price rises while volume does not).
The result is BTC's price rose from 15k to 120k.
I noticed that 1-2 years ago when BTC dropped from 30k to 15k, it accumulated a huge volume, proving that a significant amount of BTC was bought up cleanly during the dip. Therefore, when BTC surged afterward, the selling pressure was not much, especially since miners and large players needing to sell large quantities were bought by institutions OTC, so the price on the exchange did not require a large volume of consolidation to push it up. That is the reason why BTC increased from 15k to 120k while the volume was even lower than when BTC's price fell from 30k to 15k.
I have another observation about #Altcoins👀🚀 .
Since BTC's rise, altcoins have experienced many times breaking their lows, and currently, most old coins (before 2023) are still languishing below their lows, but the volume is quite high (higher than the 2021 pump season). You can check the weekly and monthly charts of some old coins like Cake, Ldo, Kava, RDNT... The price is at the bottom but the volume is at the peak, in contrast to BTC where the price has reached its peak but the volume is at a low bottom.
So I would like to hear the opinions of you guys regarding the situation where the prices of old altcoins are at a low while the volume is at a peak. What future is there for these old altcoins?