Bitcoin price received a rapid uplift after weeks of consolidation around $40k. The dominant asset made a come back to the place where it was a month ago. After breaking crucial resistance of above $40,723, the flagship asset formed a new five-week high of $51,530 at the press time. The coin is currently retesting at crucial resistance of $52,961, break out from here could initiate a big bull run!
However, the dominant asset is on the verge of a breakout, but many altcoins have dropped. Notably, Cardano, Solana, Polkadot, and Elrond’s prices dropped by 0.71%, 5.95%, 6.12%, and 3.14% respectively.
Top Crypto Analyst Briefs Relation Between Bitcoin – Altcoin Bull Cycle!
Popular analyst Micheal Van De Poppe recently shared his view on sudden Bitcoin price action. The analyst predicted, with increasing crowd attention the asset’s ascent could peak up in the next couple of months. While some altcoins might follow Bitcoin and some may fall behind. But once the flagship asset starts to consolidate after the bull run, then altcoins could take a major leg up outperforming BTC, he added.
Crowd Sentiments on Bitcoin – Altcoin Bull Cycle:
Heated arguments are running on social media on this topic. Some anticipate that Bitcoin bulls to drive the market until December, and alts to move from the year 2022. Some part of the crowd anticipates October will be Bitcoin’s month and altcoins will get spicy in November.
On the other hand, community members listed out some tokens to accumulate before the alt season begins. Notably, most of them have mentioned Cardano, Solana, Reef, Polkadot, and more.
Prime Projects Which Could Uplift the Altseason!
- Cardano (ADA) in its recent attempt to go mainstream has announced partnerships with emerging Telecom industry Dish network, in Healthcare with Awakening Health, and AI industries.
- rSOL app went live on Solana mainnet, which facilitates SOL stakers an enhanced annual percentage rate with efficient liquidity powered by rSOL
- Polygon network recently collaborated with Domination Finance to boost the cross-chain functionality. It facilitates investors to track and trade BTC, ETH, and USDT dominance.
- Elrond network integrated with Panther facilitates the creation of privacy-enhanced digital assets, also known as zAssets.
Collectively, According to the data from Trading view Bitcoin dominance is at 43.43 at the press time increased by 3% in the last few hours. Meanwhile, most of the altcoins are on a downtrend with considerable loss. Hence, October could take a major leg up in the ongoing month and parabolic alt moves look on track to start by mid-Nov or December, once Bitcoin halts.