Altcoin Market Might Crash 30–40% If Bitcoin Price Drops Below $60K This Week

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Altcoin Market Might Crash 30–40% If Bitcoin Price Drops Below $60K This Week

Do you think this speculation could happen?

Gihan Wijethunga Answered question June 25, 2024
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The market is unpredictable, it may or may not happen, and it doesn’t matter. It is important that if you are investing in altcoins or intending to invest in altcoins, you need to have a plan if that scenario occurs.

But I think investing in altcoins at this time is still not a good time, it would be better if we continue to focus on bitcoin. In addition, there are some opinions that this year’s altcoin market will be more fierce as new projects are created more and more and out of control. This means we will no longer see the crazy growth of altcoins like previous bull seasons, so investing in altcoins is actually much riskier now.
As you can easily see, many altcoins are even making new lower lows compared to April 2023, while bitcoin has yet to have any significant correction. So be careful when investing in altcoins and don’t do DCA strategy with altcoins.

Gihan Wijethunga Answered question June 25, 2024
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