According to Transfero, bitcoin seems to have lost some strength in recent days and finds itself “drifting sideways”, ranging between US$ 57,200 and US$ 64,000. This lateralization may make way this month for the growth of altcoins.
“The ‘moonvember’ may have started with the appreciation of altcoins”, evaluates the analyst team at Transfero.
The total market cap of cryptos (excluding bitcoin) has reached its highest all-time high. According to Transfero, much of this milestone is due to the appreciation of currencies such as Ethereum (ETH), Binance Coin (BNB) and Solana (SOL), and others that have reached an ATH – All-Time High.
Corroborating this growth of alts, bitcoin’s dominance has been decreasing and is already in the 42% range, as highlighted in last week’s analysis. “This drop may be indications that we are entering the Season of altcoins, the famous ‘Alt Season’”, says Transfero.
Check out some of the major currencies that have reached ATH this week.