What drives the market of Altcoins?

[Abiky]

utility is the key factor that determine any token success in the market and a good example of utility driven coin is BNB which is used to pay fees in the biggest cryptocurrency exchange Binance, the liquidity provision from the exchange ecosystem is what have propelled bnb to it current price and market position.

altcoin failures come from the lack of utility infrastructure where the coin only depend on market hypes without real support.

You sure about that? Because "meme" coins don't have utility. Yet, some of them have been highly-successful. In this time and age where instant gratification matters most (people wanting quick results), the majority will simply prefer overhyped projects than those focusing on true utility. You can see how this is the case with a project like Cardano. An oldie, focused on utility but turned into a failure as it didn't bring hype.

So if there's something that truly drives the altcoins market, that would be hype. It has subsided lately, since all of the attention is on Bitcoin. One would hope altcoin season makes a comeback soon. Just buy, "hodl", and forget about the rest.

[Dunamisx]

Do not be distracted by the way memecoins perform when you see some are profitable after investing in them. Don't be surprised by all these pump-and-dump projects; everything you see them perform is on a short-term basis; they cannot be that consistent with their performance that guarantees full dependence upon one instance to deliver after we have invested in them.

[Oshio-man]

Suppose we are mostly used to the crypto markets, and we are to discover about the market rise and fall based on the overall performance observed in crypto markets, if we are in the bull market, expect that many will be selling in profit in preparation for the fall of market so as they can buy again and invest to hold, some people are also strategically positioned for this same period for them to buy as the market falls, because that is their own strategy of making entry into the market to be profitable and the market is rising.

Buyers and sellers are the major power that is driving the price of bitcoin and altcoins to enter either bullish or bearish because people always hope for one of them to show up in the market before they can embrace the opportunity to make their plan come to reality. And once their opportunity appear in the market they will begin to release their altcoins to earn income that will make them to stay long in altcoins investment because everyone want to see positive side of the market so that they will have the courage to encourage other people to try altcoins with what they can afford to loose in the future.