Some of the alternative coins rose in price following the new historical high of Bitcoin. When will tokens continue to move up? Let’s try to find it out in our new LATOKEN review.
After bitcoin reached a new all-time high above $ 67K, some altcoins have risen significantly. For example, the price of Ethereum for the first time in history exceeded $4.37K. It increased by 11% in two days. During the same period, the price of Solana also increased by 12%, reaching $207. Let’s try to figure out in which case the growth of alternative coins will continue and whether we should expect a new season of altcoins. Read on in our new LATOKEN review!
A standard model
The growth of most altcoins at the end of the week does not exceed the momentum of bitcoin. We can say that this fits into the standard growth model. Until a serious stagnation of the first cryptocurrency begins, it is probably not worth talking about the rapid growth of altcoins.
There is an opinion that at the moment everything says the opposite, the share of bitcoin continues to grow over the last month, so there are no prerequisites for a more intensive growth of altcoins.
Anyone expecting the rise of altcoins should follow the news and the current market trends. If the bulls reduce their influence on quotes and Bitcoin lingers in the zone up to $70,000, then we might expect a cycle of distribution of capital from Bitcoin to altcoins with a subsequent increase in their price.
General trend. LATOKEN review
After updating the historical maximum with Bitcoin, altcoins are likely to follow the main cryptocurrency in the general trend. It is also worth considering the opinion of JPMorgan analysts, who said that the rise in the price of bitcoin to $67,000 was caused not so much by the launch of the first bitcoin ETF in the United States, but by the rise in inflation.
Investors are trying to save their nest egg against the backdrop of growing global inflation, shifting to instruments with higher yields, despite the risks.
Cryptocurrencies will see strong growth as the inflationary spiral around the world continues to grow.
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LATOKEN crypto exchange does not provide any investment, tax, legal, or accounting advice. This article is written for informational purposes only. Like other assets, cryptocurrency is subject to market risk. Please do your own research and trade with caution.
