The last couple of hours have been every cryptocurrency holder’s dream come true. Particularly for altcoin holders, the last few hours have brought nothing but good fortune. After missing for a couple, market bulls are back and they are asserting their dominance.
In a couple of hours, they have added billions of dollars to the market and now it stands at around $240 billion. Much of the gains have come from altcoins with Bitcoin enjoying relative gains.
While Bitcoin is rallying by 8%, Ethereum and XRP are rallying by 14% and 13% respectively. The same goes for other major cryptocurrencies with all top ten cryptocurrencies enjoying double-digit gains.
The altseason is back. And it could not have come at a better time. Bitcoin is in the next few months going to surge to new highs inspired by its block halving. Altcoins are now getting a head start before Bitcoin can begin its rally. The altseason will see altcoins garner up some dominance and avoid losing to Bitcoin during the upcoming halving. The dominance they accumulate now will further ensure they enjoy strong support and ensure higher lows if Bitcoin begins outperforming them.