This may be the first time ever since the last crypto market crash that the overall market is on a steady rise including both Bitcoin (BTC) and the altcoins altogether. However, the past week has seen a surge of growth, firm and steady for the altcoins profusely. This corresponds to almost all the altcoins though. In spite of this various market analysts, crypto critics, and investors have put forth their views upon the recent market trend.
The Views on BTC’s Surge
The king of cryptos is now back in action as always though. Spiking up after a tragic downfall is nothing new for Bitcoin (BTC). And that’s what defines Bitcoin (BTC) and distinguishes itself from all other altcoins.
In spite of this taking the recent trends into account alone, BTC stood at about $42,754 as the lowest and the price during the first of this week. However, throughout the week BTC struck upwards thrice and finally reached its all-time high for the week of about $47,833 on Thursday. Likewise, it still maintains at about $45k to $48k profusely.
Moreover, many speculate that BTC will reach its trademark of $50K by this month and is further expected to move beyond it. Accordingly, is the chart of BTC revealing its touchdown to the $50K benchmark soon.
In addition, the market value of BTC is now fluctuating standardly between 0.88% to 1.3% rise throughout. Also, the current market price standing of BTC is $46,826.
However, the story gets completely different when taking the past few months into account. On the contrary, the overall chart for BTC has not been seen with a heavy shoot-up, but rather gradual, slow, and steady.
On the other hand, the past months witnessed high daily volume trades whereas, the last month things were seen quite flat though.
The General Opinions BTC Vs. Altcoins
The Co-founder of Easy Crypto, Janine Grainger states that in recent days there are high atrocities of profuse trading happening upon the market with many active users and traders. Also, Grainger terms there has been an overall rise in the trade activities compared to past weeks. Despite all this, during the same time, BTC has yet been so flat.
This depicts the fact that the majority of the trade activities account for the altcoins compared to BTC. In addition, Grainer points out the profuse rise of Ethereum (ETH) in comparison to BTC over recent times.
Furthermore, the CEO of BCB Group, Oliver Von Landsberg-Sadie states the usual $60K to $30K to $45k trademark flow of BTC wouldn’t occur for this year. The CEO further reveals as the market has evolved itself, the BTCs trend will be different for this year.
Besides Ethereum (ETH) many other altcoins are performing remarkably well taking the overall daily trade market activity into the account. Accordingly, the daily hot trending altcoins on a daily basis other than the ETH as standard now are joined by Cardano (ADA), Stellar (XLM), and Solana (SOL).
On the contrary, it’s evident that in recent days many have moved over from BTC to the altcoins, or either many new investors are pouring in for the altcoins rather than on BTC.
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