- The altcoin market is experiencing a recovery phase, with several tokens recording encouraging performances. This trend could be the prelude to a new altseason, i.e. a period of strong growth for alternative cryptocurrencies to Bitcoin.
There are several factors that could contribute to the recovery of the altcoin market. First and foremost, Bitcoin's rally is helping to generate euphoria and interest for the entire industry. Furthermore, the arrival of the new BTC and ETH Spot ETFs could lead to an influx of new capital into the market which could also be partially destined for altcoins.
Among the best performing altcoins in the last week there are ORDI with an incredible +160% approximately (+850% in the last month), then BEAM, HNT, TIA and many others.
Analysts are generally optimistic in the latest period. For example, CREDIBull predicts that the market cap could reach 2 trillion dollars by the end of 2023,
CryptoTony shares the forecast and believes that the combination of bullish factors such as ETFs, the FED's more "accommodative" policy and the weakening of the dollar will create a favorable context for a new altseason.
In short, the signs are really positive, especially for some coins that have already performed great.
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