Recovery Market Sentiment Sees Investors Take More Risk With Altcoins
10 Août 2022 - 07:00PM
NEWSBTC
Crypto investors had been moving out of altcoins through the market
downtrend due to the high volatility that rocked these digital
assets. As a result, the fall in these altcoins was more brutal
than that recorded in bitcoin. However, as the tide has begun to
turn and the market is looking towards more of a bullish trend,
these altcoins have taken their place at the top of the recovering
chain, prompting investors to rush back into them. Altcoins Provide
More Gains Over time, it has been shown that altcoins record the
widest movements during any type of market. So just as they have a
high propensity to bring large losses, they also carry the same
trait when it comes time to make a profit. The same is the case
this time around,Al as investors have clamored to altcoins to take
advantage of the gains. Related Reading: Billionaire Mike Novogratz
Says Bitcoin At $30,000 Is Unlikely Barely two weeks into the month
of August, altcoins have quickly taken the lead when it comes to
gains. The Small Cap Index, which had suffered massively during the
downtrend, is finally having its day in the sun. It saw the largest
gains in the last 10 days, coming out at 9% for this period of
time. The Mid Cap Index follows the Small Cap Index in this regard.
Although it did not see as many gains as its smaller counterpart,
it saw 7% gains for the time period. It also spread to the Large
Cap Index, which saw 5% gains in the same time period. Small Cap
Index sees largest gains | Source: Arcane Research These gains show
that investors are beginning to recover their faith in the market
once more. Exposure to altcoins is growing rapidly, leading to a
surge in prices across these indexes. Bitcoin Follows Positive
Trend Altcoins were not the only ones that saw positive growth in
the first week of August. The positive sentiment through the market
has been widespread and has affected various digital assets, albeit
to different degrees. Bitcoin has seen lesser gains compared to its
altcoin competitors, but it saw gains nonetheless. It came out as
the index with the lowest returns so far, with only 2%. Despite
this growth, the digital asset is still severely underperforming
compared to altcoins. It is notable in the market dominance of the
digital asset, which has fallen about 7% in the last two months
alone. Market cap rests above $1.1 trillion | Source: Crypto Total
Market Cap on TradingView.com What this shows is that investors are
now moving out from the safe haven that bitcoin provided during the
market crash and are now focusing on altcoins. This has also spread
to stablecoins that have also seen their market dominance eaten
into by altcoins. Related Reading: CEL Rallies To $2 As Bankruptcy
Proceedings Continue, But Rally May Just Be Starting In the last
week alone, ETH dominance grew 0.89%, while Bitcoin and the leading
stablecoins all lost between 0.12% to 0.96% dominance. This new
hunger for risk can either be primarily rewarded, or investors may
find themselves burned if the market were to retrace. Featured
image from Binance, charts from Arcane Research and TradingView.com
Follow Best Owie on Twitter for market insights, updates, and the
occasional funny tweet…
Mina (COIN:MINAUSD)
Graphique Historique de l'Action
De Fév 2024 à Mar 2024
Mina (COIN:MINAUSD)
Graphique Historique de l'Action
De Mar 2023 à Mar 2024