The breadth of the cryptocurrency market is increasing and many of the altcoins are following the Bitcoin (BTC) rally.
According to the market breadth indicator of investment research company ByteTree, most of the altcoins are Follow Bitcoin rise It does. The indicator in question is rising number of altcoins in decline with It compares the number of cryptocurrencies.
Market width indicator also 5,300more than cryptocurrencies real time your data is examining and according to trends from 0 to 5 categorizes. The highest score is 5, a strong rise while pointing out the trend 0 points a strong decline is determined as a trend.
What the indicator is watching out of 5,300 cryptocurrencies Only 4.7% January has been at 0 since This situation led to the rise of Bitcoin many cryptocurrencies It means it’s included.
Expansion of market depth, investors increased risk appetite And the rise period is longer and more sustainable states that it is. As such, this situation also bull momentum is back in action It came to mind that it was.
Charlie Morris, founder and president of ByteTree, made the following statement on the subject:
There are only 5 months left until the Bitcoin halving and the US Federal Reserve (FED) will have to start printing money again.
According to CoinGecko data bitcoin, in the past 2 weeks 26,500 dollarfrom $35,000 rose to levels. bitcoin, while writing 34,306 dollarIt is traded from.