As Bitcoin momentarily pauses below the $35k mark, crypto traders seize the opportunity to explore the vibrant world of altcoins, injecting new energy and excitement into the market.
Cryptocurrency prices were on the rise on Monday as Bitcoin’s recent gains encouraged traders to re-enter the altcoin market. Analysts predict that this will be the largest bull market in the history of crypto. Meanwhile, stocks rebounded from last week’s declines, with the S&P, Dow, and Nasdaq all finishing in the green.
Bitcoin’s price traded in a range between $34,085 and $34,872 on Monday, with both bulls and bears showing equal strength. Technical analysis suggests that Bitcoin has a solid near-term advantage and is likely to experience an upside price breakout soon.
David Lifchitz, managing partner and chief investment officer at ExoAlpha, believes that Bitcoin could reach $45,000 by the end of the year. However, he also noted some bearish factors, such as regulatory pressure on Binance and the unraveling of the worldwide economy.
Traders have started to rotate into altcoins, with many tokens in the top 200 recording gains on Monday. Polymesh, Tellor, and Osmosis were among the top gainers, while Gala, Galxe, and Render experienced losses.
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