Many of the investors may be confused with this price movement in the crypto market. It's the first time that the only crypto coin Bitcoin is moving upside while other altcoins remain stable or even going downside.
This is very strange to know for the investors that the only money flowing is with BTC and other altcoins are totally ignored.
One of the main reason which I find yesterday from the news and which I discussed with myself to give more verification about this statement is that there is incoming war between Ukraine, Russia and United States which is directly involved.
This may be the prediction that brings it true that Bitcoin will reach 100K and after that we see a huge crash.
It could be an insider news where whales and other expert traders and investors are taking out their money from altcoins, which results in the decrease of the price of altcoins.
This could be one of the reasons.
Another reason may be the Bitcoin dominance, which is now above 60.
One thing to keep in mind that when Bitcoin dominance is up, no altcoins will go upside and even start declining.
Also there may be waiting for the confirmation of Bitcoin to get stable. We see that Bitcoin is continuously rising from 69,000 to 97,500 and still going upside.
Maybe Bitcoin after reaching 100K will help altcoins to start rising in price.
Bitcoin is pumping and most altcoins are dumping. The market will remain like this until Bitcoin stops this stupid behavior.
You see a high volatility in the Bitcoin price taking the price up and down with at least 2 to 3% very easily.
The last reason for the altcoin season to start is Ethereum.
As long as they don't buy and Ethereum doesn't rise the alt and the dominated BTC does not end.
What do you people think about this BTC movement? What are your concerns about altcoins and why they are not rising? Will be glad to see your answers in the comment section.
I hope you find this post useful and informative. If you do, please remember to reblog it so that it reaches as many people as possible and that they can benefit the most from it. Also, remember to upvote, which will help me financially and grow my account.
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