It is either we have already reached the peak of the bull market or the bull market is yet to start. It appears that the Bitcoin halving event has not made any difference after all. Usually, it is supposed to keep increasing the price of BTC for a while. There will be new people entering the market and they would be interested in purchasing BTC. But this time the bull market actually happened before the halving event and it is very calm right now after the Halving event. I don't know what to predict from this. Some people still believe and they say it is calm before the storm. Let's hope it is something like that because my hope is fully on many altcoins right now and I want some of the coins to reach their previous all-time high value so that I can book my profits.
What happens to altcoins?
If the bull market is over, the price of BTC might go down and if it happens it also brings the value of some of the altcoins down. Some popular altcoins like ETH, BNB, or BCH have seen a slight increase in value but other altcoins are still bleeding and have not seen any rally because Bitcoin is at its peak. I'm starting to worry about what would happen if the price of BTC goes down.
Last week, when there was war news, the price of BTC started dropping and it made many altcoins bleed. Though there was no drastic change in the price of BTC, some altcoins saw a big downtrend. Hive was one of the coins that had a huge impact. The price came down from almost 45 cents to 30 cents. For a few moments, it even went further down. I'm expecting the same thing to happen if there is another downtrend in the market. This is not the first time the price of BTC or altcoins is going down but the only difference this time is that there would be no pump for alt coins at all.
Investors move their funds to BTC
I have seen many new investors entering the crypto market but they are bullish only about BTC. In spite of the fact that there are thousands of other coins and thousands of other projects available in the crypto space, people believe that BTC can have a good chance over the other coins and they can easily double their money. The most expected price of BTC next is 150k which is expected to happen in another year's time. Even if it takes time to reach there, it is almost double the price of the current BTC value. If someone is investing 10k dollars today, they can easily double it if it reaches 150k in the near future.
Maybe the altcoin market might start moving upwards if there is such a huge change in the price of BTC. I have also seen some regular investors moving their funds from altcoins to BTC. They all want to have a huge holding in BTC rather than holding funds in altcoins. Even though there is a huge potential in the altcoins, people know for sure that BTC will not stop its rally and there will be a huge pump and it will always be in the upward trend.
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Posted Using InLeo Alpha
