The Bitcoin price ascended to a record high, vaulting over a commemorative milestone at $60,000. Yet, crypto analysts still struggle to wrap their heads around the occurrence as they try to predict the future.
While you might be one of those who missed the Bitcoin train and are now searching for alternatives to maximize gains on altcoins, here’s what you should expect before diving into it.
How Does the Crypto Market Move?
Supply and demand are one of the critical elements that drive the crypto market. Still, different factors are influencing the levels of supply and demand. For example, during bull markets, we see retail and institutional investors entering the market and increasing the buying pressure on Bitcoin.
Once Bitcoin reaches the top (which is not easy to catch), traders move their BTC to altcoins expecting to increase their profits even further. That happened in 2017 after the bull market and could also occur in the future.