Altcoins primed to move higher
As bitcoin makes its break higher the spark this has given to the whole crypto sector has set the altcoins alight....
- Bitcoin's recent surge has ignited the altcoin market, bringing them back to life.
- The SEC's actions against major cryptocurrency exchanges and banks have impacted the crypto sector.
- Despite negative news, crypto has recovered its losses and more within a short period.
- The potential of new technology and recognition from banks are driving crypto innovation.
- USDT Dominance has decreased by 7% in the past few weeks, but a rising bitcoin benefits altcoins.
- Most altcoins may go to zero, leaving only a few disruptive ones to thrive.
- The Total 3 chart shows signs of picking up, indicating a potential upward trend.
- Altcoins still depend on bitcoin's ascent before value is diverted into them.
- Altcoin seasons have been significant in the past, but increased regulation brings uncertainties.
The article discusses the positive impact of bitcoin's rise on the altcoin market and highlights the potential for crypto innovation. However, it also mentions the negative effects of SEC actions and the uncertainty brought by increased regulation. Overall, the sentiment is mixed.