2024

Bitcoin

<p>The post <a href="https://coinpedia.org/news/altcoins-poised-for-recovery-market-cap-stabilizes-after-recent-dip/">Altcoins Poised for Recovery: Market Cap Stabilizes After Recent Dip</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>As the crypto market faces a huge crash and possible major corrections, altcoins are losing their strength at key support levels. Meanwhile, the total market value for altcoins has fallen to almost $150 billion, a drop not seen since November 2023. Despite the tough market conditions, crypto analyst Matthew Hyland believes that altcoins are likely to recover from this low point.</p> 
<h2 class="wp-block-heading" id="h-altcoins-market-to-rebound">Altcoins Market To Rebound</h2> 
<p>According to renowned crypto analyst Matthew Hyland, the altcoin market cap, which had plummeted to $150 billion amid the Japanese stock market correction and rising fears of a U.S. recession, is now <a href="https://www.tradingview.com/markets/cryptocurrencies/global-charts/">stabilizing around $182.1 billion</a>. This recovery indicates a potential recovery phase for altcoins after significant volatility.</p> 
<p>Matthew Hyland believes that the recent decline in the altcoin market cap may be short-lived. His optimistic outlook is based on the market’s historical resilience and the potential for recovery following such dips.</p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/ALTS?src=hash&amp;ref_src=twsrc%5Etfw">#ALTS</a> (OTHERS)<br><br>Perhaps light at the end of the tunnel: <a href="https://t.co/vxFvPjpgVm">pic.twitter.com/vxFvPjpgVm</a></p>— Matthew Hyland (@MatthewHyland_) <a href="https://twitter.com/MatthewHyland_/status/1820699873211011331?ref_src=twsrc%5Etfw">August 6, 2024</a>
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<p>Even though the market has fallen, many altcoins are showing signs of great recovery. Some are even seen forming double-bottom patterns, which often signal a potential recovery. This suggests that the cryptocurrency market might soon see a rebound.</p> 
<h2 class="wp-block-heading" id="h-bitcoin-dominance-surges">Bitcoin Dominance Surges</h2> 
<p>The global crypto market has experienced a severe downturn, with its total market cap plummeting to $1.89 trillion a 12.29% drop in just one day. Despite this significant decline, Bitcoin has maintained a strong position, <a href="https://in.tradingview.com/symbols/BTC.D/">holding a dominance of 56.56%</a>.</p> 
<p>However, Bitcoin <a href="https://coinpedia.org/news/more-bloodshed-to-come-cryptoquant-predicts-bitcoin-price-to-plunge-below-40k/">fell below the $50,000 mark</a>, reaching its lowest since February.</p> 
<p>While Bitcoin’s price has decreased, its dominance has risen because other major cryptocurrencies, including BNB, XRP, Dogecoin, and Cardano, have suffered even greater losses. Ethereum, the second-largest cryptocurrency, has also seen a sharp decline, now <a href="https://markets.coinpedia.org/ethereum/">trading below $2,500</a>.</p>

Altcoins Poised for Recovery: Market Cap Stabilizes After Recent Dip

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