The shocking Bitcoin rally has resulted in the cryptocurrency reaching two times its previous all-time high. Meanwhile, most altcoins have yet to return to the high they set years ago. This strange occurrence recently with altcoins growing in USD value, but getting hammered on BTC pairs has led the market into “uncharted territory,” according to one crypto analyst.
Will Bitcoin continue to completely dominate altcoins from here on out, or will a proper altcoin season arrive where the rest of the asset class beats out BTC by a wide margin?
The Bitcoin Bull Run That Left Altcoins Behind
All eyes are on Bitcoin, stretching from Wall Street to Main Street, and even the government and banks are finally paying attention. Hard-coded rarity is causing a supply shock and letting the cryptocurrency soar to new highs with relative ease.
No one is selling BTC, only buying. The investor fever and flying high prices have caused many to turn to cheaper