05 January 2021 14:04, UTC

Denis Goncharenko

The crypto market continues to delight with new achievements. Thus, the total market capitalization of all crypto assets has reached an all-time high of over $883 billion.

The bull market is driven primarily by strong Bitcoin and Ethereum gains. However, after the rally, the sentiment around the market remains contradictory: some analysts believe that a local peak has formed, which will be difficult to overcome, others predict the onset of the altcoin season.

Altcoins generally get in the spotlight when Bitcoin consolidates after the rise. This pattern usually arises when BTC stabilizes, and investors tend to search for risk in the cryptocurrency market. Some traders believe that Bitcoin may temporarily peak in the near future, but this does not necessarily mean that a deep correction should occur after that. BTC may be consolidating and showing low volatility, which will lead to the price growth of alternative coins. In the event of a BTC correction, altcoins could follow with a sharp loss as well.

Image by Bitcoinist

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