Altcoins Melt Markets With Their Bull Rallies, What have we missed?
The crypto market has been highly volatile. Also, Altcoins and the hype around the bull rallies are sometimes unbelievable. The market always swings around the price fluctuations sometimes they are up by more than their previous Alltime high and sometimes theta re lower than the all-time low. But in between these fluctuations deciding and entering into the market at the best price becomes quite tricky, And some of the potential coins like BTT, Digibyte, Etc, and Doge all had their way to rally but most of the traders could not get it into it at the right time.
Let’s check the facts we missed about the altcoins rally. In mid of 2021 the hype around Dogecoin, the meme coin had attracted a lot of new traders. This coin was in setting all new trends followed by the Elons appearance in the famous comedy show Saturday night Live.
Before the rally, the coin was the hot topic for discussion on social platforms like twitter.
Despite being the meme coin, Doge has the potential to return over more than 1000% of your investments. Famous Celebrity Elon Musk, has a vital role to play in pumping and dumping these alts. The craze around ELons appearance at SNL made the coin pump more than 400% but when the doge father termed it “Hustle” the coin plunged heavily.
Now let’s see how ETC performed in the last bull cycle. In the recent Crypto survey Conducted by Benzinga when asked “ if you have $1000 to buy at the dip what altcoins would you choose to invest”. Ethereum Classic was one of the third most voted among the other altcoins.
ETC came along the Ethereum in 2016. While ETH is heading towards a proof-of-stake model, ETC is set to retain a proof-of-work mechanism. Ethereum Classic has a fixed supply capped at 210 million ETC, There is no doubt the ETC prices can surprise us with new all-time highs in every bull cycle. In mid-2021 ETC had hit its ALL time high after a long gap since then the bulls haven’t failed surprisingly.
Digibyte hasn’t outperformed so far in the year 2021. But I think we spend most of our time, or I spend most of my time, looking into a lot of the Defi plays and proof-of-stake plays because I think that there’s a lot of compelling reasons to look at that and where the crypto world is headed.
Digibyte is interesting in that it’s a proof-of-work platform network. It’s similar to Bitcoin ( BTC -2.35% ) in that regard, but it’s an interesting one to look at when you compare it to Bitcoin or other proof-of-work cryptocurrencies in that it’s a unique three-layer cryptocurrency. Its focus is on security.
One of the biggest reasons why traders would stick to Digibyte.
Surprisingly BTT bulls haven’t come into action since the bull rally in 2020. Does that mean the coin is a dead investment not really? BitTorrent seems to be very promising in the long run.
BitTorrent price trends at $0.003155 USD with a 24-hour trading volume of $394,672,252 USD. BitTorrent has been up 1.13% in the last 24 hours.
The current CoinMarketCap ranking is #56, with a live market cap of $3,123,147,291 USD. It has a circulating supply of 990,000,000,000 BTT coins and the max. Supply is not available. A lot of traders couldn’t grab it before the rally in August 2020 and investment looks risky and unworthy, this isn’t true
But the bears have taken over these altcoins. Looks like the market might flip soon and the same alts might be seen with a huge demand flow. Get set for a new alt season in the year 2022.