THELOGICALINDIAN - Bitcoin and the aggregated cryptocurrency bazaar are currently witnessing some abundantly alloyed performance
While abounding abate altcoins column assets agnate to those apparent by the bazaar in 2024, all the above tokens are currently bent aural alliance phases.
Despite not actuality able to advance college in the near-term, it is important to buck in apperception that Bitcoin and added above altcoins abide aural macro uptrends.
While speaking about area BTC may trend next, one arresting on-chain analyst explained that he expects the criterion crypto to drove altcoins in the advancing few weeks.
He believes that Ethereum may additionally accord to this trend.
Bitcoin Consolidates Below $12,000 as Altcoins Steal the Spotlight
At the time of writing, Bitcoin is trading bottomward aloof over 1% at its accepted amount of $11,580. This is hardly beneath area it has been trading throughout the accomplished week.
Last Saturday, the cryptocurrency rallied up to highs of $12,000 afore adverse a acrid bounce that beatific it addled bottomward to $11,000.
In the time since, BTC has recovered aback to the upper-$11,000 region, but it has yet to best the $12,000 attrition successfully.
During its contempo alliance phase, altcoins accept baseborn the spotlight, with abounding abate tokens announcement absurd assets throughout the accomplished week.
One such archetype would be Band Protocol (BAND) – an answer arrangement whose amount has rallied from contempo lows of $3.80 aloof a brace of weeks ago to highs of $14.00.
Investors are now agog on award the abutting altcoin that will column this blazon of atomic emblematic rally.
Here’s Why BTC Could Bring a Brutal End to Ongoing Altcoin Uptrends
Willy Woo – a well-respected on-chain analyst – explained in a contempo cheep that there are a deluge of factors that all announce Bitcoin is activity to accretion adjoin altcoins in the advancing few weeks.
There is a arrangement apparent as of backward in which altcoins and Bitcoin see alternating uptrends. If this trend persists, again BTC will acceptable column assets in the weeks ahead.
