Are altcoins dead forever?
So a lot of people are in deep red when it comes to altcoin holdings.
Is the alt market dead?
Are we ever gonna recover?
These questions are natural to pop in everyone's mind.
In the current situation altcoins have taken a back seat for the following reasons-
1- Almost all tradinv volume of alts are pegged to BTC which affects the cost to a huge extent.
2-pyscholoically or mental hinderance.
Its like saying in time of war all you care about is getting water and food, other luxuries dont count.
So as if now we are at war and bitcoin has all the attention.
How and when can we expect the altcoin market to bounce back.
1- worst case
Altcoins in the near future are freed up from there btc pairs and volume starts to shift to USD pairings of alts.
2- BTC breaks out the long awaited bearish trend,makes a run and then has a pull back.
Giving alts room to grow.
On a very short term view we expect alts to grow once the positivity is back in the market.
If we try to break it down piece by piece then-
Market dumped in Jan, people pulled out money.
Ico's felt like safe haven to people at that moment and they poured money into ICO which blocked the money flow in and out of te market of months.
New money stopped flowing because according to a layman, we dropped from 20k .new money doesnt care if we went from 5k to 20k in one stretch they would just see that we dropped from 20k and never recovered
To get that excitment or fomo from retail investors to pour in money BTC needs break 20k to get that attention back.
