The cryptocurrency market has been progressing quite positively for a while, “thescalpingpro” commented on the current situation. altcoin He shared his comment that the market could get even better.
The analyst cited a chart showing that the Altcoin’s market capitalization is currently $509 billion. According to his analysis, the analyst pointed to a potential rally that could see the market value rise to $750 billion one day.
Koinfinans.com As we reported, analyst expectations altcoin It is progressing due to the increasing positive emotions in the markets. Since the start of the Bitcoin ETF-backed rally, it has reached new annual highs alongside increased investor activity across the major market.
Additionally, as previously reported, the altcoin managed to outperform Bitcoin in futures (OI) rates as well. In particular, Bitcoin’s OI rate dropped by 39% as of December 26. In contrast, altcoins’ OI increased by 41%, outpacing BTC.
Additionally, crypto analysts hint that the altcoin market will continue its upward trend towards 2024. Crypto analyst “Moustache” emphasized that the market value of alternative assets is teetering on the edge of a golden cross, which could indicate a potential higher price trend.
As Bitcoin’s price moved more tepidly, major assets reportedly posted higher gains over the same period. Mustache said this trend shows that altcoins are leading the current market rush and are moving away from the usual price movements dictated by Bitcoin.