đ¨Crypto Analysts Predict Post-Halving Surge for Altcoinsđ
The volatility of the crypto market has garnered both praise and criticism. With the anticipated Bitcoin halving, there is talk of a potential upswing in the crypto town. Bitcoin would have its moment post-halving, and altcoins are going to have a go. As of April 5, the total market cap for altcoins stood at 314.687 billion. Letâs examine more closely why altcoins are the preferred option for consumers. Advertisement
Factors Behind Altcoinsâ Price
Since the launch of Bitcoin, more than 9,000+ other cryptocurrencies have entered the market. The variety of applications that altcoins provideâfrom data oracles to governanceâis what Bitcoin does not. Though BTC continues to be the dominant player as a reserve currency on major exchanges due to perceptions of long-term holding and its significant role as an intermediary for converting fiat currency to cryptocurrencies, altcoin prices frequently follow Bitcoinâs price fluctuations.
There could be a bull run following the fourth halving, which would have an immediate impact on the altcoin market. This is partially because new investors are diversifying into altcoins, which have a lower entry barrier and thus attract new retail investors who otherwise would not have been able to enter the market through bitcoin. Nevertheless, there are also times when altcoins rise in value while bitcoinâs price falls, suggesting that the relative outlooks of the two are in interaction. Many crypto analysts are positive about the rise of altcoins in the post-halving atmosphere as Bitcoinâs demand fades.