Connect with us

Business

Why The Next Bitcoin Breakout May Not Be An Altcoin Seasonal Sign By Cointelegraph

Published

on

Why The Next Bitcoin Breakout May Not Be An Altcoin Seasonal Sign By Cointelegraph
Why the next Bitcoin breakout may not be an altcoin seasonal signal

April 14th (BTC) reached an all-time high of $ 64,900 after racking up gains of 124.5% in 2021. However, a 27.5% correction followed over the next eleven days, marking a local low of $ 47,000.

Popular Crypto Fear and Greed Index reached its lowest level In 12 months, on April 25, it indicates that investors were closer to “extreme fear”, which was a complete reversal of the level of “extreme greed” observed during Bitcoin’s rally above $ 60,000.

Bitcoin price in USD, Coinbase. Source: TradingView
Altcoin market capitalization, billions of dollars. Source: TradingView
Top altcoins performances from April 22 to May 9. Source: CoinCodex
The worst performance of the top 100 altcoins between April 22 and May 9 Source: CoinCodex