Bitcoin Hits New ATH — What’s Next for Altcoins?

[tygeade]

Obviously there is strong resistance and strong support I see in these two in the bitcoin price today, that's why if we notice that there is only a rejection for the second time around when the 123k$ is broken, it has hit 120K$ again, which is why its value has fallen again in the market.

So it looks like it is down to 116k$ again with the support we see now, we still have no idea where there will actually be a breakout between the two, whether it is resistance or support?
And this is probably what others here are also waiting for.

Trying to hit higher is the way to go higher, first you need to try to go higher and if you can do it then you earn, if you fail then you lose. There isn't much we can do about it, we just need to learn and do a better job, if we can do that then we could make some great returns. Obviously a lot of people end up with losses that they can't focus on, but if we can get a greater return that means we are doing a fine job at trading.

So we need to just keep on trying to do better and better, and hit that ceiling few times, it is not going to be broken on the first try, but if we keep trying then it will get weaker and weaker each time we try and on the last try we will go break above it. Or, eventually buyers will get tired and it will go down, but I do not think that will happen now.

[AYOBA]

I don't think that we will see alt season again this circle because bitcoin is still dominating and big companies are still buying. No one is investing in altcoins because they have no real value. Altcoins season was last year and don't get too carried away that as bitcoin price is pumping, altcoins will survive the pump. One small correction on bitcoin price will make them go dipper.

These days the altcoins are really surprising me with the way their market is fluctuating; I don’t even understand. Because last season a lot of people were saying this season is the Altcoins season, but up to today there haven’t been any changes concerning the Altcoins, and the most surprising thing is that by the time the Bitcoin market is dumping down, all the Altcoins will follow up, and by the time the Bitcoin is doing well, they will still not be able to get back to normal levels, talk less of pumping up.

That’s why most people prefer to invest in Bitcoin rather than invest in the altcoins because they have known value. Again, although the Bitcoin market will make them go deeper, and since the Bitcoin price is pumped up, they suppose they should also go deeper, but nothing like that. And that is why I also said that it will be hard for the altcoins to do well in this situation because they are not doing better this season.

[AlphaBheta]

A bit late to this, but I think we still need to be careful with Alts, for a while now the trend has been little to no reaction from them despite the rally from BTC.

[wakier]

A bit late to this, but I think we still need to be careful with Alts, for a while now the trend has been little to no reaction from them despite the rally from BTC.

I still don't quite understand the current cycle. After BTC reaches its new ATH, money should flow into altcoins, creating a true altseason. However, after observing for several weeks after BTC reached its new ATH and experienced a correction, altcoins also declined, dropping even deeper. Some time ago, when BTC returned to $119,000, I noticed that ETH and Dogecoin didn't follow BTC movement, but instead tended to weaken.

Honestly, I invested my savings in altcoins when they rose a week ago, but the price immediately dropped drastically, and I'm currently still experiencing losses. Hopefully, the altseason cycle will truly occur this year, as many coins are believed to have potential for growth. I saw BNB experience a fairly drastic increase in the last two days, hitting a new ATH at $859. I hoped ETH, SOL, and Dogecoin to reach new ATH afterward.

[Macro Exchange]

A bit late to this, but I think we still need to be careful with Alts, for a while now the trend has been little to no reaction from them despite the rally from BTC.

I still don't quite understand the current cycle. After BTC reaches its new ATH, money should flow into altcoins, creating a true altseason. However, after observing for several weeks after BTC reached its new ATH and experienced a correction, altcoins also declined, dropping even deeper. Some time ago, when BTC returned to $119,000, I noticed that ETH and Dogecoin didn't follow BTC movement, but instead tended to weaken.

Honestly, I invested my savings in altcoins when they rose a week ago, but the price immediately dropped drastically, and I'm currently still experiencing losses. Hopefully, the altseason cycle will truly occur this year, as many coins are believed to have potential for growth. I saw BNB experience a fairly drastic increase in the last two days, hitting a new ATH at $859. I hoped ETH, SOL, and Dogecoin to reach new ATH afterward.

Normally, after BTC hits a new ATH, alts follow, but this time they just dipped harder. Feels like money not rotating the same way as before. Might just be early or maybe the game’s changed. Holding through this ain't easy, but yeah, let’s see if altseason actually shows up soon.