Entry to the Crypto, buy Token, 09-07-2024

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Entry to the Crypto, buy Token

An overview of altcoins
I see that the overall picture on the altcoin market has not changed. Analysing various indicators, we can draw some conclusions about the future price movement. The Blockchain Centre website shows that altcoins are in the accumulation phase, which usually precedes growth. It is also important to keep in mind that most altcoins show interesting projects and take their positions in the cryptocurrency market.

Indicators on the TradingView service

On the TradingView service, you can observe the dominance of bitcoin. Its market share is now slowing down, which may indicate a possible increase in the dominance of altcoins. I believe that this season, bitcoin may reach 60% dominance, but not more. Some altcoins have already taken their positions and continue to develop, so next season, bitcoin may lose some of its dominance in favour of altcoins.

Entry to the Crypto, buy Token, 09-07-2024

USDT dynamics and accumulation phases

The USDT dominance indicator is also important for understanding the overall market situation. It is currently in the middle zone, which indicates an accumulation phase. In the future, this may lead to a significant flow of capital from USDT to bitcoin and altcoins, which will boost the market. This process is expected to begin in late winter or early spring next year.

Entry to the Crypto, buy Token, 09-07-2024

Comparison with 2021

I compared the current situation with the events of 2021. Back then, we saw several months of decline, followed by a market reversal. Now we are seeing a similar situation, where several attempts to lower the bitcoin rate have failed, which may indicate future growth. The summer is still ongoing, and we may see a market reversal next month.

So, I see that the altcoin market is in the accumulation phase, which usually precedes growth. The dominance of bitcoin is slowing down, which opens up opportunities for altcoins. The USDT dominance indicator indicates that capital may flow into cryptocurrencies early next year. The current market situation is reminiscent of events in 2021, which may indicate future growth. Continue to follow my videos on the CryptoViktor channel to keep up to date with the latest news and analysis on cryptocurrencies in Ukrainian.

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