Unprecedented Bitcoin Rally Leads Altcoins Into “Uncharted Territory”

0
121

The shocking Bitcoin rally has resulted in the cryptocurrency reaching two times its previous all-time high. Meanwhile, most altcoins have yet to return to the high they set years ago. This strange occurrence recently with altcoins growing in USD value, but getting hammered on BTC pairs has led the market into “uncharted territory,” according to one crypto analyst.

Will Bitcoin continue to completely dominate altcoins from here on out, or will a proper altcoin season arrive where the rest of the asset class beats out BTC by a wide margin?

The Bitcoin Bull Run That Left Altcoins Behind

All eyes are on Bitcoin, stretching from Wall Street to Main Street, and even the government and banks are finally paying attention. Hard-coded rarity is causing a supply shock and letting the cryptocurrency soar to new highs with relative ease.

Reloads and free spins available every day, for every player, in mBitcasino Crypto Autumn Bonanza! Play Now!

No one is selling BTC, only buying. The investor fever and flying high prices have caused many to turn to cheaper cryptocurrency altcoin alternatives, like Ethereum, Chainlink, and Litecoin.

Related Reading | Bitcoin Dominance Doji: Why 2021 Could Spell Doom For Altcoins

These assets have also been rocketing in USD value, but these altcoins on their BTC pairs tell a very different story.

On USD pairs of major altcoins, an uptrend and price appreciation is visible. However, on BTC trading pairs, each asset continues to…

Source

LEAVE A REPLY

Please enter your comment!
Please enter your name here