According to experts The Block spoke with, altcoins are showing resilience in the face of Bitcoin’s increasing volatility and have plenty of room for growth. Shortly after the November U.S. presidential election, altcoins began to outperform Bitcoin in terms of price growth, according to Andre Dragosch, head of European research at Bitwise. Bitwise’s Alt Season Index shows that 85% of the cryptocurrencies it tracks are showing higher price growth than the top cryptocurrency.
"The performance correlation between altcoins and Bitcoin has decreased significantly. A lower correlation means that altcoins have more potential for growth than they did before the US election," the expert noted.
According to Andre, the diversity of cryptocurrency indicators has increased to the highest level since March, indicating a diversification of investment ideas in the market. According to BRN expert Valentin Fournier, market volatility will remain high for the foreseeable future. He claims that traders and investors will closely monitor fresh economic data, as they will affect the US Federal Reserve's decision on interest rates. The researcher concluded that market players are waiting for the start of the altcoin season, which has been talked about for a long time. According to specialists from the Glassnode platform, the first cryptocurrency may experience a significant correction after overcoming the $ 100,000 mark.
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Source: https://bits.media/the-block-altkoiny-operedili-bitkoin-po-samomu-glavnomu-pokazatelyu/