The altcoin rally in July unraveled and brought many digital assets to new lows. Will this time be different?
The altcoin rally that suddenly started in December brought the dominance of Bitcoin to a record low, as many digital assets appreciated not only in dollar terms, but against BTC as well. But the previous big rally of altcoins, where all-time highs were reached, unraveled to new lows a few months later.
This time, the dominance of a large group of small assets is growing by the day.
So what are the possible scenarios this time?
1. Bull Market for Everyone.
With the prices of altcoins relatively low, digital assets are still accessible for new buyers. We must remember that despite corrections, the previous crop of altcoins reached and kept new highs over the years. And if cryptocurrencies are here to stay, a new crop of assets may evolve to command higher prices. With the recent spike in altcoin prices, the heft of the whole market increased to $700 billion, with one trillion in sight soon.