Bitcoin (BTC), the world’s largest cryptocurrency by market cap, recorded its highest level in the last nine months. This has also led to a rise in various altcoin projects. Also, more analysts announced altcoin projects in their focus. In this article, we will convey the altcoin selections of Bitboy, a very large Youtube channel. Here are the details…
Analyst bought these altcoin projects
cryptocoin.com As we have also reported, Bitcoin, the world’s largest cryptocurrency by market capitalization, has climbed to its highest point since June 2022, reaching $27,500. This uptrend came after a period of volatility in the cryptocurrency markets. Earlier, the BTC/USD pair dropped to $24,624.74 on Thursday.
As a result of the recent rally after this drop, the 10-day moving average is on the verge of an upside crossover with the 25-day moving average, a potential indicator of a longer-term bull run. Meanwhile, in a recent video by the famous cryptocurrency influencer BitBoy Crypto, the presenter discussed the performance of their portfolio, noting that he has invested heavily in Ethereum (ETH) and Chainlink (LINK).
However, with Bitcoin’s dominance increasing right now, he is questioning whether it is worth concentrating some assets and investing more in Bitcoin and ETH. Despite the recent market volatility, the server remains optimistic about the performance of their portfolio. Polygon (MATIC) rose 33 percent and Conflux (CFX) 106 percent. Ultimately, he decides not to make any changes to his holdings, citing his preference to have several coins in his portfolio.
Bitcoin dominance on the rise
The recent rise in Bitcoin’s dominance has sparked debate among investors and analysts about potential implications for the broader cryptocurrency market. Some believe that Bitcoin’s dominance will continue to increase, potentially leading to sales in altcoins and an increase in BTC and ETH prices. Others argue that a variety of coins is necessary for a healthy and robust cryptocurrency market.
As Bitcoin and other cryptocurrencies continue to face volatility and price fluctuations, it is not yet clear how the market will respond to changing market conditions and investor sentiment. At the time of writing, the value of Bitcoin is around $27,472, up 4%. The coin managed to hit a daily high of $27,797. On the other hand, Ethereum, the second largest cryptocurrency, is trading at $1,818, up 5%.