Since October 11, the Bitcoin market has grown by 27.01%, with a 12.85% increase after the US presidential election. The Altcoin market has also seen a strong rise of about 19.43% in the same period. Crypto expert Captain Faibik believes the true Altcoin rally hasn’t started yet, suggesting that we could see a fresh wave of growth in the Altcoin market.
Here’s what you need to know!
Altcoins Are Ready to Explode!
Captain Faibik points out that the Altcoin market rally is still ahead of us. On November 5, the Altcoin market had a total market cap of $874.15 billion. By November 6, this number had risen to $973.54 billion, surpassing the October peak of $969.05 billion. Currently, the market cap is $1.044 trillion, which is about 3.73% lower than the July peak of $1.083 trillion. Notably, in mid-March, the market cap of the Altcoin market reached $1.241 trillion.
How Does Bitcoin Impact Altcoins?
Bitcoin continues to lead the crypto market, and history shows that Altcoins usually follow Bitcoin’s price movements. Bitcoin has already surpassed its all-time high of $73,000+. To reach the mid-March peak, the Altcoin market needs to grow by at least 18.75%. This indicates there’s still significant room for growth in the Altcoin space.
Ethereum Market: An Overview
Since November 5, the Ethereum market has climbed by at least 27.19%. However, the market is at least 33.19% lower than its March peak of $4,061.71. Between July 30 and August 7, the market suffered a massive fall of 41.64%. On July 30, the ETH price was $3.316.78. If the market grows at least 8.71%, it can reclaim losses from the steep fall experienced in early August.
Opportunities for Altcoin Investors
Investors watching the Altcoin market may see this as a chance to prepare for future gains. With the potential Altcoin rally still ahead, it could be the right time to invest in Altcoins with high growth potential.
Is this the beginning of the next great altcoin bull run? Only time will tell. Stay tuned.
