Altcoins Bounce After Big Crypto Sell Off.
Many altcoins are seeing a significant bounce today after a big sell-off in the crypto market yesterday.
Up to yesterday, many of the smaller crypto coins had been in the red after investors were selling off their crypto investments with the continuing fall in prices with many investors becoming impatient and believing that the crypto bull run is over.
But today the global crypto market cap is up by 3.7% to $2.45 Trillion which is mainly being led by the smaller altcoins.
Above is the chart tracking the total market cap for altcoins which are all crypto coins outside of Bitcoin.
As you can see, the altcoin market took a significant hike in the past 24 hours and the surge is expected to continue throughout today.
Some of the biggest altcoin winners over the past 24 hours have been in the AI and L1 crypto coin space.
Here are the top 3 gainers in AI coins:
1) Optimus AI - 43.9%
2) Spectral 40.4%
3) Not Financial Advice - 30%
Here are the top 3 gainers in L1 coins:
1) Nuklai - 16.9%
2) Alephium - 16.6%
3) OctaSpace - 15.7%
The big question all crypto investors are wondering is when will the parabolic run start for Bitcoin and altcoins?
Bitcoin is going through a period of accumulation and isn't expected to starts its parabolic run for a few months yet.
Altcoins on the other hand are primed to make a move at anytime as the altcoin season is now upon us and investor interest should start coming back to crypto over the next few weeks.
A lot also depends on inflation data that will soon be released which may make investors optimistic or pessimistic depending on inflation figures.
My own personal opinion is I think the altcoin market is now overdue a significant rally especially seeing that many altcoins have been retracing in price for the past month.
And one of the biggest winners of any rally will be the crypto AI space which is white hot amongst seasoned crypto investors at the moment.
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