Good evening to all my friends. I hope you all are doing well. I am having a fantastic day. Let's talk about crypto market. Today, we're discussing the current situation in the cryptocurrency market, specifically focusing on altcoins and whether they've reached their bottom. We start by looking at the altcoin market cap, which is currently around $211 billion. Historically, altcoins tend to outperform Bitcoin during certain periods, such as late 2021. However, since 2022, altcoins have been in a downtrend. As of August 2024, altcoin market cap has shown signs of confirming a bottom, especially after a recent spike in interest rates from Japan, which led to a market downturn. Notably, major support levels have been established, indicating that this could be a critical area for buying.
We also observe Bitcoin's recent golden cross, a bullish signal, which suggests that Bitcoin could lead the market soon. With a total crypto market cap around $2.26 trillion, upcoming days could see significant movements in prices, especially with potential golden crossovers in various altcoin charts. Lastly, we note that while Bitcoin shows bullish trends, USD dominance is facing bearish signals, which may further influence altcoin performance. I just want tell you all that we have still so much time to figure out what went wrong in previous Bull Run. Dont repeat those mistakes again because if you will miss this one then you have to wait till next halving which is going to happen in next 4 years. That's it for today. Here's the latest update video of crypto market. Thanks & have a good day!!
@abfarhan