Ethereum

bullish

Cardano

Bitcoin

Bitcoin’s (BTC) steady climb toward the $100,000 mark this week has triggered a significant pivot toward altcoins with a surprise announcement: the resignation of SEC Chairman Gary Gensler.
Gensler, known for his tough stance on crypto, buoyed the market with his exit, and altcoins took the spotlight on Thursday.
Altcoins, smaller and generally riskier cryptocurrencies compared to Bitcoin, have rallied this year alongside the largest cryptocurrency’s record-breaking rally. With Bitcoin trading in overbought territory, analysts suggest altcoins could extend their recent gains.
“All cryptocurrencies have been bullish in recent weeks,” said Rob Ginsberg of Wolfe Research. “On a relative basis, it looks certain that cryptocurrencies will continue to outperform stocks as we head into 2025.”
Dogecoin, which has increased by 270% in the last three months to become the sixth largest cryptocurrency by market value, is also among the prominent cryptocurrencies. Analysts attribute this increase to increased individual interest, especially after the recent US presidential elections.
“Memecoins like Dogecoin remain speculative but are an undeniable part of crypto culture,” said Zach Pandl, head of research at Grayscale Investments. “While they carry significant risks, they reflect the permissionless and community-driven nature of the crypto industry.”
Ryan Rasmussen of Bitwise Asset Management cautioned against over-emphasizing memecoin activity, noting that only a handful of such coins will survive long-term. Despite the risks, memecoins have proven to be a gateway for newcomers due to their affordability and pop-culture appeal.
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Despite its historic rally, Bitcoin could face headwinds. Galaxy Digital CEO Mike Novogratz warned of a potential pullback, citing “excessive leverage in the system.” Wolfe Research’s Ginsberg echoed those concerns, noting that Bitcoin has entered “overbought territory.” However, he acknowledged that past rallies of this magnitude have typically led to either a period of consolidation or a continuation of momentum as new investors pile in.
Altcoins offer a range of use cases beyond Bitcoin’s digital gold narrative. Ethereum and Solana lead the way in smart contracts, while tokens like Uniswap and Cardano are at the core of decentralized finance (DeFi). The NFT and gaming sectors are also benefiting from altcoins tailored to these ecosystems.
The Trump administration’s pro-crypto stance could further strengthen altcoins, which remain under greater regulatory scrutiny than Bitcoin. “These sectors could benefit more from a friendlier regulatory environment than Bitcoin,” Ginsberg said.
The memecoin boom could also spell success for individual trading platforms like Robinhood. Trading volumes for the top five memecoins reached $70 billion in a single day after the election, with $45 billion of that coming from the largest token, according to Needham analyst John Todaro.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/as-bitcoin-hits-the-100k-mark-will-altcoins-follow-analysts-evaluated/" rel="noopener noreferrer nofollow">As Bitcoin Hits the $100K Mark, Will Altcoins Follow? Analysts Evaluated</a>

As Bitcoin Hits the $100K Mark, Will Altcoins Follow? Analysts Evaluated

Bitcoin Sistemi EN

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