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.
