A lot is happening with the crypto market, causing it to go up and down. BTC’s price is moving slowly, but altcoins are more volatile, which is causing problems for investors.
In today’s post, I will give you an update on the market and talk about recent news. Yesterday, the FED announced the interest rate, and it was expected that the interest rate would be reduced, but Jerome Powell announced that the interest rate would remain the same.
Remember, whether the FED rate goes up or down definitely affects the market. If the FED rate goes up, it’s bad news for the market, but if it stays the same or is cut, the market becomes bullish.
After yesterday’s news, we saw BTC enter a bullish trend, going from $101,000 to $105K. Altcoins also had a slightly better move.
Now the question is, when will the proper altcoin season start? In my opinion, it depends on dominance. When dominance starts to decrease, altcoin prices will begin to rise, and this could happen in February.
February has always been a bullish month for Bitcoin. Today is January 31, and altcoins are expected to pump as soon as February starts. During this month, many altcoins will recover.
When do you think the altcoin season will start, and how low does dominance need to go for that to happen? I would be happy to see your answers in the comment section.
I hope you find this post useful and informative. If you do, please remember to reblog it so that it reaches as many people as possible and that they can benefit the most from it. Also, remember to upvote, which will help me financially and grow my account.
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Thank You!
Best Wishes.
