Speaking of the altcoin market:

It didn't take long for Ethereum to return to its original form:
The exchange rate of ETH/BTC has not rebounded in the past week and has fallen below 0.034. I checked and found that this is already the level of 2021. In the past bull market, this exchange rate would only rise. Looking at it this way, ETH has indeed fallen behind this year, which also indicates that the traditional meaning of altcoin bull market has not yet appeared. We can only say that the brothers who hold ETH and altcoins have worked hard. The leading altcoin, Ethereum, is not doing well, and the trends of other altcoins are even more difficult to describe.
This is the current status of the altcoin market. I saw a brother saying that the market dominance is now in the hands of American institutions. These big funds don't care about altcoins other than Bitcoin and Ethereum, so altcoins cannot have a bull market in this round. I strongly disagree with this view.
I can accept that large capital only focuses on the big cake, but altcoin is definitely an indispensable helper in the growth process of the big cake. Altcoin is equivalent to providing leverage for the rise of the big cake and is also the main force attracting retail funds.
Given the scale and price of big cakes, it is difficult for retail investors to get involved. This is an important part of the positive cycle of big cakes. In turn, after big cakes encounter a bottleneck in the rise, funds will be transferred to altcoins to support altcoins to break out of the bull market. This will attract more people to enter the market. The two complement each other, and this has been the pattern used in several bull markets, this time is no exception.
So be patient, the bull market for altcoin will eventually come. #與動態一起迎聖誕 #2024 Gate.io 年度賬單 #ETH