The terrible times are behind for the crypto ecosystem, regardless of the winner in the U.S. presidential election, the future will be brighter for crypto than today. The harsh bear market made lots of crypto investors give up carrying their crypto bags for a long time.
At the end of the downtrend, Bitcoin has been on the rise since November 2022 but the situation is not so great for the altcoins. The growing Bitcoin Dominance in Crypto was a sign of comeback for the whole market but the investors did not prefer to take furher risks with very small cap altcoins while the inflation was seen unbeatable.
The era of inflation is over. The central banks started to cut the interest rates which will trigger the meltdown of the money in deposit accounts, bonds, and other interest - bearing investments. So, it is not absurd to expect that the markets will test higher price levels in the future.
Though we do not recognize the change in the altcoins, the TOTAL3 chart (the chart that shows the market cap of altcoins excluding BTC & ETH), clearly indicates that we are stepping out of the local downtrend to test another higher high.
Bitcoin domination is at a 60% level and altcoins are swinging in very narrow channels. Until the time when Bitcoin price becomes a bubble that no newcomer wants to buy BTC at that price, alts cannot do magic to surprise everyone.
HIVE did not test the all time low levels around $0.10, we see that the price is above that price level even in the negative news related to the crypto market.
It may take some time to break above $0.4 - $0.5 levels but the rest is likely to be similar to what has happened so far in the bull markets.
What do you think about the performance of HIVE in the market cycle?
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Hive On ✌️
Posted Using InLeo Alpha
