From September 14th until today we saw altcoins surge from 8-10% while Bitcoin market dominance started to fall at the current 67.6%. Many see it as an indicator that the new alt season is starting.
What it seems weird though, is that all these altcoins started to go up almost at the same time while bitcoin was mostly stable. In the past the usual thing for altcoins was to follow Bitcoin’s price rise and fall.
There are only two possible explanations for this to happen. Either there are new money going directly into the altcoins or some of the whales are manipulating the prices.
Altcoins Surge Due to New Money Or Whale Manipulation
If the first case is true, there should be a more stable organic growth instead of just a burst in everything at the same time. Manipulation in the cryptocurrency eco-system is something that many believe is a very common thing for whales to do from time to time since there are no regulations whatsoever.
The next few days will be critical in order to see if the trend continues or not.
This article is purely informative and have no intention to give financial advises to each readers.
image by icoplus.com