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Altcoin are pumping strongly – will Bitcoin follow in the next few days?

 


The prices of the altcoins have been moving almost exclusively upwards in the last few days. A trend reversal on the market therefore seems to have been achieved. Will the Bitcoin course follow in the next few days and weeks and will we soon see $50,000 again?


Altcoins with good gains in the last few days

Altcoins have gained a few percentage points in the past few days. Some of the cryptocurrencies gained more than 10%, some over 20% within the last 7 days. The biggest gainers in the top 20 include Terra (+35%), Dogecoin (+27%) and Polygon (+24%).


Altcoins continue to gain ground against Bitcoin

The high gains of the altcoins continue the trend of 2021, according to which most cryptocurrencies have recorded stronger price gains than Bitcoin. This is mainly due to the ever-increasing adoption of various blockchain protocols in mass-market areas.


The decentralized financial products (DeFi) in particular are currently experiencing very strong growth. Blockchains such as Ethereum, Cardano, Solana, Avalanche and the aforementioned Near Protocol can book more and more decentralized applications (dApps) on their blockchains. The meme coins are also rising sharply again. In this article I covered this topic.


When will the Bitcoin price follow?

At the moment, the Bitcoin price is not rising as much as the Altcoins. Bitcoin price gained about 6% in the last 7 days. However, this rise followed the massive price drop from $46,000 to $42,000 in early January. 


Bitcoin is repeatedly influenced by negative news. Here I have described the 3 most important reasons for the Bitcoin crash. So when will another Bitcoin rally follow? Opinions differ. Some analysts see another drop to $30,000. Others say the bottom of the bitcoin correction has been reached. However, the pumping altcoins give hope for bullish weeks.

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