This is the second part of this article. Here is the first part.
Many expect a possible price surge in altcoins. Let’s examine five more catalysts for altcoins.
6) U.S. elections
Politics now plays a role in the crypto market and the forthcoming U.S. The former president of America, Donald Trump, is a major crypto supporter. If he regains his spot as the president of America, his entire management may set regulations that are beneficial to the crypto community.
The coming elections would shake the crypto market a bit more, causing a possible boost in Altcoin prices. But, if a new administration that has no plans for cryptocurrency integration comes in, it may hurt the crypto market. Regardless, the election will impact the crypto market. Major crypto investors are backing politicians.
Source: X
7) Rate Cuts
The market has anticipated three rate cuts this year, with a 90% likelihood of a 25-basic point cut in September. Low interest rates were a positive sign for risky assets such as digital currencies.
According to some analysts, they may put pressure on BTC and pump up its price in the long run when recession threats subside, but they could also cause a sell-off to start with.
Source: X
8) Retail is Still on the Sidelines
Despite recent market movements, retail interest in cryptocurrencies remains subdued. Crypto and Bitcoin are not on many people’s search options, and the Coinbase app isn’t rated highly.
Well, that’s not bad news; it means some retail investors are not in the market yet. The good part of all this is that if they decide to step into the crypto market, they will do so in mass, and it could impact Altcoins.
9) The Dollar Index (DXY)
The Dollar Index has been declining and is currently testing key support levels. If the price falls below this level, then a bullish trend for cryptocurrencies will start. As people learn the dollar index’s and altcoin values, they can make the right investment decisions.
Source: X
This is why investors take bitcoins and other altcoins. Investors are all looking to protect their assets against depreciating currencies.
10) Bearish Catalysts are Finishing
Some of the bearish drivers that affected the market in the past, including Mt. Gox and Germany selling bitcoin, are being withdrawn. This reduction in selling pressure could help altcoins find a nice environment for growth and provide security.
Source: X
Conclusion
Based on these factors, there could be hope on the horizon for altcoins as we advance, especially among investors. Since the crypto market might be rather volatile in the short term, it is important to stay informed. In this regard, investors should consider these catalysts while entering the cryptocurrency market.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted risk tolerance levels of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses you may incur due to any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
