The atmosphere has been pretty hectic in the crypto space since Bitcoin led the market back from the long crypto winter a few weeks ago. Since that happened, Altcoins have had a spate of greatness, showing signs of near-detachment from Bitcoin’s influence that has affected alt prices for years.
However, according to Rekt Capital, it’s still too early to overestimate the strength of Altcoins against Bitcoin. In a tweet, Rekt Capital said that the real power of the altcoins will be tested once Bitcoin surges past the $7,550 resistance in a clean and smooth manner.
Strength Of The Altcoin Market
Since Altcoins started showing signs of pulling away from BTC’s influence, some people have come out to strongly argue that this may be the Altcoin season that could see many of them break out into a major bull run.
Although that is yet to happen, there’s no disputing that it’s possible, especially looking at the current trends for Litecoin and XRP that seem to be preparing for something big.
BTC Hasn’t Weakened
Going on, Rekt Capital argued that even though Altcoins have tried hard to push back against Bitcoin, the top crypto is still not weakened. Indeed, some Altcoins like Litecoin have gained against Bitcoin, but that’s not to say that Bitcoin’s market dominance has been shaken.
Bitcoin is still the most dominant and popular crypto in the market. In fact, at the time of this writing, Bitcoin holds a cool 55.3% market share.
Rekt Capital opined that although Altcoins are generally looking good, Bitcoin is looking great too, and that means that there has to be a precise acid test to gauge the balance. In that case, what happens after Bitcoin breaks through the $7,750 mark and manages to stay above it will determine the real combined strength of the Altcoins against Bitcoin.
