CandleFocus Did Ripple’s Victory Over the SEC Kickstart the Long-Awaited Altcoin Season?
2024-09-23
Author: Content Editor
The cryptocurrency market has been waiting for a major explosion for almost three years, but nothing significant happened in 2023. However, recent trends suggest that the moment might finally be approaching. Analyst Matthew Perry notes that while some coins like Binance Coin and Solana have experienced slight declines, others like XRP have shown small gains. Bitcoin and Ethereum are moving in opposite directions, with Bitcoin slightly down and Ethereum up, indicating a potential shift towards altcoins. A drop in Bitcoin dominance often precedes altcoin season. Based on past trends, significant movements may occur around six months after Bitcoin's halving event, potentially leading to a new all-time high in 2025. Despite the SEC's efforts to suppress the market, positive momentum is building, fueled by the Bitcoin halving event and growing global interest in cryptocurrencies. The crypto market's current market cap of $2.19 trillion, with Bitcoin reaching $63,000 and Ethereum surpassing $2,600, suggests an upward trend and the possibility of a market shift.
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