A veteran crypto analyst, known as The Flow Horse, doesn’t see a broad altcoin rally happening anytime soon. He believes there simply isn’t enough money in the market to lift all altcoins.
Too Much “Garbage,” Not Enough Money
In a recent YouTube video, The Flow Horse explained his bearish outlook on altseason. He argues that while some assets might see significant pumps, it will come at the expense of others. The market is currently experiencing a high degree of dispersion, with some assets performing well while others lag significantly. He describes the situation as having “too much garbage” and not enough money to support a widespread price increase across the board. A “rising tide” lifting all boats isn’t happening, he says.
Bitcoin Dominance on the Rise
The analyst points to Bitcoin dominance (BTC.D) as further evidence. BTC.D, which measures Bitcoin’s share of the total crypto market cap, is currently above 58%. This metric has increased by over 4% in the last six months, suggesting Bitcoin’s value is growing faster than that of altcoins. This strengthens his argument that money is flowing primarily into Bitcoin, leaving altcoins behind.
Disclaimer: This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before investing in cryptocurrencies.
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