Источник Bitcoinist.com
Заголовок Altcoin Market Cap Breakout: Analyst Says Altcoin Party Hasn’t Started Yet
Дата 20241110

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============= Обработанный текст:
Altcoin Market Cap Breakout: Analyst Says Altcoin Party Hasn’t Started Yet

Altcoin Market Cap Breakout: Analyst Says Altcoin Party Hasn’t Started Yet

by Scott Matherson

2 mins ago

in Uncategorized

0

The crypto market• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта has seen significant inflows over the past 30 days, a trend
that has intensified notably in the last two weeks. Interestingly, most of the
inflow has been into Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin , which has caused the leading cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта to
break into new all-time highs back to back .

Related Reading: The $12.1 Billion Trump Effect: Binance• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Binance’s Changpeng Zhao
Cashes In Big

Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum, although late to the party, has started to receive huge inflows in
the past 48 hours. As such, the leading altcoin has surged by about 24% in the
past seven days. This has allowed it to break above $3,000 for the first time
since early August. This impressive Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum price rally is casting a
spotlight on the rest of the altcoin market, especially the notion of an
altcoin season.

Altcoin Market Cap On The Verge Of A Breakout

The combined market cap of altcoins, representing all cryptocurrencies• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта
excluding Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin, has increased massively since the beginning of November.
According to a TradingView chart initially shared on social media platform X
by crypto analyst Captain Faibik, the altcoin market has been on an uptrend
from a November low of $860 billion on November 4. At the time of writing,
this market cap stands at $1.095 trillion, which represents a 27.3% altcoin
market increase in less than a week.

Total crypto market• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта cap at $2.66 trillion on the daily chart: TradingView.com

This uptrend, which has stemmed from a wider inflow into the crypto market• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта,
has seen the altcoin market cap now breaking out of a descending trendline
when plotted from its March 13 high of $1.267 trillion. With this in mind,
crypto analyst Captain Faibik noted that the altcoins party
hasn t started yet, hinting at the possibility of an altcoin
season rolling in very soon.

Interestingly, the analyst foresees a further $349 billion inflow into the
altcoin market before the end of the year, which would cause a further 31.41%
increase from the descending trendline. Should this prediction materialize, it
will see the altcoin market cap breaking into a new 2024 high.

Image from X : Captain Faibik

Altcoin Season Closer Than Before

CoinMarketCap data shows that the Altcoin Season Index currently stands at 38
out of 100, still a notable distance from the 75 threshold needed to declare
an official altcoin season. However, recent trends and momentum within the
altcoin market hint that the onset of an altcoin season may be closer than
previously expected since the beginning of the year. An altcoin season is
defined by a period when altcoins start to overperform Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin in gains as
investors start to diversify their portfolios.

Related Reading: FTX Co-Founder Gary Wang Begs Judge For Freedom: Will He
Escape Jail Time?

At the time of writing, the majority of large market-cap altcoins are
outperforming Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin in both the 24-hour and seven-day timeframes. Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum,
Solana, Dogecoin, and Cardano are currently up by 30%, 25%, 70%, and 52%,
respectively, in the past seven days, compared to Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin’s 16% increase in
the same timeframe.

Featured image from TheStreet, chart from TradingView

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