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Altseason. Why are altcoins rising in value?

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Altseason

Altseason. Why are altcoins rising in value?

One of the most important events in the crypto industry is the “altseason”. After Bitcoin updated its historical maximum value, other coins began to rise in price.

Falling XRP

On November 24, the value of XRP on the BitXmi crypto exchange reached a local high of $ 0.78. After that, it began to fall sharply and on December 26 fell to $ 0.16. In about a month, altcoin fell by 80%.

Polkadot

On December 27, the Polkadot cryptocurrency traded at $ 5, and less than a month later, on January 16, it set an all-time high above $ 19. In a short period of time, the coin has risen in price almost five times, making it the 4th largest digital coin in terms of capitalization.

Chainlink

LINK

The fall in XRP is more of an exception that proves the rule. In addition to Polkadot, which hit its all-time high in January, there were other altcoins that went up significantly. One of the most striking examples is Chainlink. On January 18, its price reached $ 23.5 for the first time.

Compound

Altseason

One of the altcoins that have shown the most recent gains is Compound. In early November, the altcoin was trading at a local minimum of $ 90, and on January 18, its quotes reached $ 237. In a few months, the value of the asset has grown by 163%.

Bitcoin Cash

Altseason

Among the altcoins that showed highs in 2021, there was also the main fork of Bitcoin – Bitcoin Cash. On January 10, the cost of cryptocurrency on BitXmi exceeded $ 631. Since December 23, its rate has grown by 138%.

Ethereum

Altseason

One of the main events in early 2020 is a new all-time high, which Ethereum set on January 19. Ethereum price on BitXmi reached $ 1,438 for the first time. Now members of the crypto community expect further growth in the price of the asset.

Altseason and Bitcoin market share

On January 3, the share of bitcoin on the crypto market approached 73%, after which it began to decline. By January 20, it dropped to 65.1%. This happened against the backdrop of the fall in the bitcoin rate after updating the historical maximum near the $ 42 thousand marks.

At the moment, despite the significant growth of altcoins, the share of bitcoin in the market remains extremely high. In 2017, it fell below 40%, and crypto industry players expect this scenario to repeat itself this year.

Read actual crypto news and forecasts every day on https://news.bitxmi.com/

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