✴️ Gitcoin | The Altcoins Will Grow, Explained (Last Time)

2月17日

Let's have a look at Gitcoin and compare it to some other projects in this market.

First, many Altcoins are in the same situation as Gitcoin, these didn't have a chance to grow in 2023. These are the ones that stayed behind and the ones likely next in line to shine.

Here we can see GTCUSDT trading near the same price level as it was back in June/May 2023. Very low indeed.

If we look at Bitcoin, just to mention one example, we know that it is currently trading at the same price level as back in December 2021.

Solana is trading at the same price level as in April 2022.

All those Altcoins that grew strong in the recovery year moved to the same level as back in March/April 2022 and some did even better and hit the same price value they had back in December and November 2021. Many others stayed behind. This is normal because the market is now so big.

Pairs like the latter group can easily go into correction mode, imagine Injective produced almost 4,000% growth.

The former, such as GTCUSDT and many of the pairs that I am sharing in the last few days, didn't move but the chart patterns are the same as those that moved ahead before they entered their bullish phase. Meaning, they produced a classic bottom pattern and then went to grow strongly.

Going even deeper, pairs like Bitcoin Cash and XRP moved ahead of the entire pack, just to mention two. Notice that these peaked in July 2023 and even though many other pairs moved strong afterward, these continued with their corrective/consolidation phase.

As the market continues to grow and evolve, more and more pairs will detach and move within their own cycles and many pairs move in groups.

Looking again at GTCUSDT, we can see a minor retrace between late December and early February. In this same period Bitcoin grew strong... We can easily assume that if Bitcoin and the bigger Altcoins release some energy, move down/retrace, this energy will flow to those projects that are now sitting at bottom prices and will grow up really fast because the market capitalization is small compared to those.

That's the situation we are in.

➖ In a bear market, everything goes down when Bitcoin goes down.
When Bitcoin goes sideways, everything drops... When Bitcoin goes up, the ALTSBTC drop but the major Altcoins move with Bitcoin.

➖ In a bull market, which is what we are getting into in 2024, when Bitcoin moves down and entire section of the market will go up.
When Bitcoin goes sideways everything grows and when Bitcoin moves up some will stall while others will follow... Just look back to 2019, 2020 and 2021 or the previous cycle or wait and see how things will turn out in the weeks ahead.

Regardless of the relation between the pairs;
Regardless of what Bitcoin does;
We will see the ALTSBTC produce a major bullish phase in 2024.

This will happen sooner rather than later, so be prepared.

Thank you for your continued support.

Namaste.