Altcoin Market Awaits 17% Surge to Trigger Euphoria Phase
- TOTAL3 nds 17.34% ris to surpss its 2021 pk of $1.13 trillion.
- AI16Z surgd 109%, BGB 77.1%, VIRTUAL 49.4%, nd PENGU 31.3% lst wk.
- Bitcoin dominnc nr 60% fuls optimism s trdrs pivot towrds altcoin invstmnts.
Th cryptocurrncy mrkt is witnssing nticiption s altcoins inch closr to wht xprts cll uphori phs. According to Dn Crypto Trds, prominnt psudonymous crypto trdr, th totl mrkt cpitliztion of ll cryptocurrncis, xcluding Bitcoin nd Ethr (TOTAL3), must ris pproximtly 17.34% from its currnt vlution to triggr this phs.
In Dc. 28 post on X, th trdr shrd tht th TOTAL3 nds to surpss its 2021 pk of $1.13 trillion to ntr pric discovry nd unlsh th nticiptd uphori. At prsnt, TOTAL3 stnds t $962.99 billion, mrking n imprssiv 91.67% growth sinc th strt of th yr, s pr TrdingViw dt. Dn cutiond tht voltility would likly prsist within th $840 billion to $1.1 trillion rng nd xprssd concrn bout potntil dip blow $800 billion.
Volatility and Traders Shifting Strategies
Mrkt nlysts suggst th hightnd voltility is tid to trdrs dopting shortr-trm strtgis comprd to prvious cycls. Dnil Chung, co-foundr of Syncrcy Cpitl, shrd in post on Dcmbr 28 tht mny trdrs now closly monitor hourly chrts to tim thir movs. H sid, Evryon dcidd thy wr Gorg Soros ll of suddn this cycl nd constntly monitoring hourly chrts to tim ntris/xits nd plying with lvrg.
This pproch, Chung notd, hs slowd brkout momntum for crypto tokns comprd to rlir cycls. Dspit this shift, altcoins hv shown signs of rsilinc. Ovr th pst wk, AI16Z tokn (AI16Z) hs risn by 109%, Bitgt Tokn (BGB) surgd by 77.1%, Virtuls Protocol (VIRTUAL) gind 49.4%, nd Pudgy Pnguins (PENGU) climbd 31.3%, ccording to CoinMrktCp dt.
Bitcoin Dominance Fuels Altcoin Optimism
Bitcoins dominnc hs risn to nrly 60%, signling shift in trdrs ccumultion strtgis towrd altcoins. With Bitcoins pric pltuing in rcnt dys, trdrs s altcoins s providing bttr risk-rwrd opportunitis. Psudonymous trdr Dym suggstd in Dc. 27 post tht th tim to DCA Bitcoin is ovr for nothr 1.5+ yrs, dvocting focus on altcoin invstmnts.
Th volving dynmics undrlin th growing llur of altcoins s mrkt prticipnts prpr for th nxt potntil brkout. Th mrkts dirction hings on whthr TOTAL3 cn brch its criticl $1.13 trillion thrshold to triggr trnsformtiv phs in th altcoin spc.
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Read more: https://www.tronweekly.com/altcoin-market-awaits-17-surge-for-euphoria/
Text source: TronWeekly
