One crypto analyst believes that the unprecedented BTC rally will lead the altcoins into uncharted territory as coins have yet to return to the highs set years ago. This market occurrence with the coins growing in USD Value but crashing on the BTC pairs will be the thing that will get them to the unchartered territory as we are reading more in our altcoin news.
If Bitcoin continues dominating altcoins from here on, the altcoin season could be stopped shortly but it could also arrive decisively and beat BTC by a wide margin. All eyes are on BTC now from Wall Street to banks but the coded rarity is causing a supply shock and lets the cryptocurrency skyrocket to new highs fairly simply. No one is selling BTC now and the investor fever is contributing to the flying prices which caused many to turn to cheaper crypto altcoin derivatives such as Litecoin, Chainlink, and Ethereum.
These assets have also been rocketing in USD Value but the altcoin/BTC pairs tell us a different story. On the USD pairs of the altcoins, an uptrend and price increase are visible but on the BTC trading pairs, each asset continues to slide towards new lows. In the past, once BTC was able to break its former all-time highs, the altcoin season caused the crypto asset class to surpass BTC by a substantial amount. History however still has yet to repeat this cycle as it is evident in the BTC dominance chart.
The current altcoin season is nothing like it was in the past as one crypto analyst paid close attention to this strange divergence between the assets and BTC saying that the unprecedented BTC rally, will take the altcoin in uncharted territory. But what does this mean exactly? BTC is outperforming everything else on the market because institutions started focusing on in this cycle. This wealth class looks to BTC to offset the risk of inflation but altcoins present more risks considering their limited use cases.
Ethereum on the other hand got the green light from the regulators and will be among the few coins that have a long-term value. But, the question remains what have altcoins done from the previous cycle that brought a working product to the market that can be offered to institutions. Retail investors, that bought altcoins the last time are still losing so why exactly is investing in altcoins?
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