Despite the fact that the proportion of dominance of Bitcoin in the market is more than 50%, the trend in February hinted that the altcoins market wakes up what he’s talking about, and Google Trends. The number of search queries related to “altcoins”, rose to new highs, exceeding the peak rates 2017-2018.
According to the portal Mickey, graphs of the price of most altcoins were green most of last and this months; many of the coins showed double-digit growth of, for example, four of the top 20 coins are traded above the 200-day moving average.
Of course, if we assess the market from All Time Highs, it will still be on for 80-90% in the red, but if you take the period of the past month, then every week we can note a 25% increase for some coins.
All this may indicate the final stage cryptogamy. Many analysts suggest the beginning of a new altstone and update the previous ATH. But the main question remains the same, as the market continues to focus on Bitcoin.
“This is the official season Altcoin. We don’t ask why. Just say thanks and take profit as it comes,” writes senior analyst, eToro’s Mati Greenspan.