Altcoin
The potential of the cryptocurrency market increases, Altcoin becomes the choice of investors to get money
JAKARTA – The approval of the US Spot Ethereum ETF by the US Securities and Exchange Commission (SEC) caused Bitcoin, along with most altcoins, to rally last week amid growing optimism.
By the beginning of the last week of May, the price of Bitcoin had returned to the US$70,000 level, or around Rp 1.12 billion. However, the rise did not last long and BTC was once again held back by the downtrend.
Tokocrypto trader Fyqieh Fachrur explained that Bitcoin needs to stay above the main support level at $66,000 to maintain bullish momentum.
“This week, all attention is still focused on a series of speeches by Fed officials, which are expected to provide information on future US interest rate policies. Meanwhile, market participants anxiously await signals amid indications of a decline in U.S. inflation,” Fyqieh said.
According to Fyqieh, investors and traders are currently focusing on speculation about the potential Altseason startup or altcoin season, triggered by the recent increase in the total market capitalization of altcoins.
After the Ethereum ETF, many other altcoins will try their luck, including XRP, Litecoin (LTC), Solana (SOL), Pepe, Floki, Notcoin and many others. The market seems bullish on accepting ETFs in an unprecedented way.
He also explained that the main triggers of Altseason usually involve several factors, such as increased adoption and use of blockchain-based applications that encourage demand for certain altcoins.
Altseason’s impact on the cryptocurrency industry is very significant. In terms of transaction value, increased altcoin trading activity can increase market liquidity and attract new investors.
Additionally, Altseason often encourages technological innovation, as many altcoin projects develop new technologies and innovative solutions to capitalize on this momentum.
“As a result, we may see more project development and increased adoption of more sophisticated blockchain technology,” Fyqieh explained.
Label:
altcoins
aset krypto
crypto