Bitcoin, which had a big rally after Donald Trump's victory, has been trending sideways in recent days. While the upward trend in BTC slowed down, altcoins went on the offensive this time.
While altcoins such as XRP and Tron (TRX) are in the focus of the market with their rise, 10x Research CEO Markus Thielen said that the altcoin season has begun.
Stating that while Bitcoin's market dominance decreased to 53.80%, altcoins such as XRP, XLM, and HBAR made gains exceeding 400%, Thielen stated that the altcoin season will continue.
“Altcoin season has started to be priced in and this trend will continue. Potentially, trading opportunities will continue to expand.”
Markus Thielen said that he thinks the demand for altcoins, and therefore the rise, will continue until Donald Trump's inauguration in January.
Referring to the rise of XRP, Thielen stated that the rally gained momentum with the breaking of a long-term technical formation after the US elections and said, “The XRP rally is extraordinary and will continue.”
Finally, the analyst Markus Thielen added that the XRP price fluctuation does not indicate a slowdown in the market's upward trend and that Ethereum and Solana will lead the crypto market as altcoin season has arrived.
*This is not investment advice.
