In the crypto currency market, only 17 Altcoin performed better than Bitcoin (BTC) in the last 90 days. According to CoinMarketcap data, names such as Bera (499%), IP (81%) and BGB (78%) among the best performance tokens came to the fore, while the BTC depreciated 15%in the same period. This shows that there is still no clear recovery in the market for Altcoin investors.
Altcoin Market: What do data show?
CoinMarketcap’s data determine the situation of the subcoins in the market by calculating how many of the largest 100 toks have exceeded BTC, depending on the market value. According to the Altcoin Season Index, this value must be over 75 to accept that a market is in the Altcoin season. If the index is below 25, the market is considered to be in the Bitcoin season. The fact that the index remains less than 25 in a row since February 27, shows that Bitcoin still maintains its dominance on the market. This shows that investors prefer to stay in Bitcoin instead of turning to risky assets.
When the visual data is examined, it is seen that many subcoins have experienced more decreases despite the 15 %depreciation of the BTC. Particularly popular subcoins such as XRP, TRX, KCS, XDC and LTC have shook the trust of investors by performing negative performance. In addition, it is noteworthy that Bera, which performs better than BTC, increased as 499 %. This reveals that certain projects can grow independently of general market trends.
Bitcoin’s dominance is high
However, another factor that investors take into account is Bitcoin’s market domination. When BTC’s share in the total crypto market increases, it is known that subcoins are often difficult to perform. According to the latest data, the increase in market domination of Bitcoin shows that investors are turning to BTC as a safe port, avoiding risk.
While the Altcoin season will start in the crypto market, it is predicted that Bitcoin will continue its dominance on the market. Investors closely follow the Altcoin Season Index to see if the trends in the market will change. In the coming period, the direction of the BTC will continue to be one of the most important factors that determine whether the Altcoin market will come to life. Investors are advised to act according to market conditions and be careful.
