according to the materials of the site - By Bitcoin Sistemi EN
The recent drop in Bitcoin (BTC), Ethereum (ETH), and altcoins seems to have jeopardized the long-awaited altcoin rally.
Despite the recovery from the drop, analysts warn of a possible altcoin rally and say that the rise in their value may be short-lived.
According to DL News, Bitfinex analysts stated that the altcoin market lacks the sustainable capital inflow and structural demand necessary for explosive growth.
Bitfinex analysts noted that individual interest in altcoins has increased, but the current growth lacks sustainable capital and demand.
Google Trends data shows that in July, interest in altcoins surpassed interest in Bitcoin; however, the sharp drop in prices and Bitcoin's dominance make investors cautious about altcoins, analysts believe.
Moreover, analysts stated that any price increase for altcoins is likely to be short-lived until conditions change, and the market as a whole remains vulnerable to recession.
Bitfinex analysts recently added that Bitcoin and altcoins may enter a consolidation period, but new macroeconomic events or a strong influx of funds into crypto ETFs could quickly change the situation.
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