Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/altcoins-gain-significance-compared-to-bitcoin/" data-wpel-link="internal">Altcoins Gain Significance Compared to Bitcoin</a><br></p>
<p style="text-align: justify">As June approaches, the <a href="https://en.coin-turk.com/top-5-exciting-projects-on-avalanche-network-in-2024/" data-wpel-link="internal">cryptocurrency </a><a href="https://finance.coin-turk.com/" data-wpel-link="exclude">market</a>, especially Bitcoin and altcoins, is preparing for potential price changes. Recent trends have shown a significant increase in altcoin performance compared to Bitcoin. Altcoins have shown resilience with steady increases in market values alongside Bitcoin’s price gains. This trend has led to speculation about the possibility of Bitcoin’s price falling <a href="https://newslinker.co" target="_blank" rel="noopener" data-wpel-link="exclude">in the near future</a>.</p> 
<h2 style="text-align: justify" id="altcoins-gain-importance-compared-to-bitcoin">Altcoins Gain Importance Compared to Bitcoin</h2> 
<p style="text-align: justify">At the beginning of May, Bitcoin’s decline was short-lived, with negative ETF inflows lasting only about a week before recovery. Over the past two weeks, consistent inflows have highlighted continued demand for Bitcoin, demonstrating the fundamental strength in the market despite temporary setbacks.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-356107 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/btc-19.jpg" alt="" width="1600" height="900"></p> 
<p style="text-align: justify">Crypto analyst Jessica Miranda observed that although Bitcoin still holds more than 54% of the market share, altcoins have gained importance compared to Bitcoin. Historically, periods of rising altcoin performance have generally been followed by declines in Bitcoin prices. This has been clearly seen over the nine months since the rally began in September 2023.</p> 
<h2 style="text-align: justify" id="altcoins-surpass-bitcoin-model">Altcoins Surpass Bitcoin Model</h2> 
<p style="text-align: justify">While Bitcoin typically dominates the cryptocurrency market, there are instances where altcoins overshadow Bitcoin, especially during intense bull runs. The model of altcoins surpassing Bitcoin was evident during the 2022-23 bear trend, indicating the cyclical nature of market dynamics.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="alignnone wp-image-356109 size-full" src="https://coin-turk.com/wp-content/uploads/2024/05/altcoin.jpg" alt="" width="1600" height="900"></p> 
<p style="text-align: justify">Currently, the BTC dominance chart shows that Bitcoin’s dominance is approaching a short-term low range at 54%, potentially signaling an imminent rebound. A recovery in Bitcoin dominance could restrict any ongoing rally in the altcoin market and challenge expectations of a Bitcoin price drop.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-356110 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/kripto-2.png" alt="" width="1743" height="865"></p> 
<p style="text-align: justify">Technical analysis of the total market value of altcoins indicates that resistance is approaching $1.24 trillion, suggesting a potential pullback in altcoin prices. However, given the strong upward trend observed over the past eight months, it is expected that this resistance will eventually be overcome.</p> 
<p style="text-align: justify">At this stage, although altcoins have recently shown strong performance, historical models and technical analyses indicate a potential reversal in the first half of June. Therefore, while Bitcoin may potentially rise, altcoins could experience a temporary decline.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/altcoins-gain-significance-compared-to-bitcoin/" data-wpel-link="internal">Altcoins Gain Significance Compared to Bitcoin</a></h5>

Altcoins Gain Significance Compared to Bitcoin

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