The volatility of the cryptocurrency market has drawn both praise and criticism. With Bitcoin halving expected, there is talk of a potential rally in crypto town. Bitcoin will have its moment after the halving, and so will altcoins. As of April 5th, the market capitalization of altcoins was 314.687 billion coins. Let's take a closer look at why altcoins are the preferred choice for consumers.
Factors behind altcoin prices
Since the launch of Bitcoin, over 9,000 other cryptocurrencies have entered the market. From data oracles to governance, altcoins offer a variety of applications that Bitcoin does not have. While BTC remains a dominant player as a base currency on major exchanges due to its perceived long-term holding and important role as an intermediary in converting fiat to cryptocurrencies, altcoin prices are It often follows the price fluctuations of the coin.
A bull market is likely to occur after the fourth halving, which will have an immediate impact on the altcoin market. This is partly due to new investors diversifying into altcoins, which have lower barriers to entry and thus attract new retail investors who otherwise would not have been able to enter the market through Bitcoin. I'm wearing it. Nevertheless, altcoins can sometimes rise in value while Bitcoin's price falls, suggesting that their relative prospects are interacting. Many crypto analysts are positive that altcoins will rise in a post-halving atmosphere as demand for Bitcoin wanes.
Altcoins to consider
Although altcoins are considered riskier than Bitcoin, there is more room for innovation and technological advancement. In such cases, it is best to diversify your investment among well-known altcoins such as Ethereum, PEPE, Bitgert, and Solana.
Solana
Solana offers a wide range of smart contract applications, allowing developers to build decentralized applications, create NFTs, and establish DeFi platforms. Amid the market turmoil in March, Solana's price showed promising signs of a potential uptrend featuring a bullish pattern.
Bitgart
Bitgert could be another new efficient investment option. Following ETH's Dencun update, BRISE, the Bitgert blockchain's native cryptocurrency, resides in its own BRC-20 standard, is also compatible with the Ethereum Virtual Machine (EVM), and is already attracting even more investments from around the world. are collecting. The Dencun upgrade reduced layer 2 transaction costs and increased investor interest in Bitgert tokens. Furthermore, Bitgert is his second fastest cryptocurrency, boasting speeds of 100,000 TPS and has approved over 25 million transactions since its debut in 2021, making it the top investment choice. BRISE current price is $0.000000207711 and 24-hour trading volume is 2.4 million. The token experienced a huge rally from January to March, but since then the price has suddenly fallen.
Due to the nature of the cryptocurrency market, price fluctuations are normal. Bitcoin maximalists are influencing prices, and their direct impact is causing altcoin prices to plummet. However, prominent cryptocurrencies from the Ethereum and Solana networks will surely recover once Bitcoin's fantastic rally stops.
Ethereum
Ethereum continues to be the leading platform for decentralized applications and smart contracts. The price of Ethereum briefly peaked at around $3,700, but the upward trend slowed due to subsequent profit-taking and the price correction continued. Confirmation of the ascending wedge pattern could lead to further significant declines in ETH. Investors may target support levels at $3,200 and $3,000 for a fall to $3,000. Additionally, recent Dencun upgrades have increased the value of his ETH. Given its close relationship with Bitcoin, demand for Ethereum is expected to increase further as the halving approaches.
