Bittime -The cryptocurrency market is experiencing uncertainty regarding monetary policy and global macroeconomic trends. Analysts predict a further decline in the value of altcoins compared to Bitcoin, which could reach 40% in the coming months. This trend is causing concern among investors, similar to the situation that occurred in 2019.
Potential Correlation of Altcoins and Lower Interest Rates
Crypto analyst Benjamin Cowen points out the correlation between altcoin-to-Bitcoin (ALT/BTC) pairs and upcoming interest rate cuts. Cowen explained that altcoins may experience significant declines before interest rate cuts, which could mirror the situation in previous years.
Check Today's Crypto Market:
Despite the possibility of a short-term rebound, Cowen remains skeptical of altcoin performance in the near term. According to him, the lack of social interest and the downward trend in altcoins could continue until the Fed's interest rates change.
Also Read How to Buy Crypto:
An Emotional Journey for Crypto Investors
Market analyst Patric H. warned of a potentially tough emotional ride for Bitcoin and altcoin investors in May. He noted that in the next 2-6 weeks, there may be a final round of market volatility before a potential breakout occurs. Additionally, he pointed out that investor sentiment is too euphoric, based on the Fear and Greed Index showing the “greedy” side.
Also read: 5 Altcoins with a Chance to Rise 1000% when Bitcoin Falls? This is the Altcoin List
Impact on Altcoins and Crypto Markets
Patric H. highlighted that the market is losing momentum due to continued outflows from Bitcoin ETFs. Additionally, the Bitcoin ETF's debut in Hong Kong fell short of investors' expectations, recording only $11 million in trading volume compared to expectations of $300 million. This circumstance contributed to the decline in interest in altcoins.
Check Crypto Prices Today:
Crypto investors should pay attention to the movement of altcoins compared to Bitcoin in the near future. The expected decline in the value of altcoins may provide an opportunity for investors preparing for volatile market conditions. It is important to remain alert to market developments and macroeconomic trends that may impact the performance of altcoins and the crypto market as a whole.
How to Buy Crypto on Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn Complete Guide How to Buy Crypto on Bittime .
Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also read:
What Are Altcoins and Their Role in Cryptocurrency
Tips for Finding Altcoins that will Rise
What Are Altcoins? Why is it so Important in the Crypto World?
Causes of Altcoin Season Lagging in 2024
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
Comments
0 comments
Please sign in to leave a comment.