As a guest post from Shane Neagle, Editor In Chief of The Tokenist, the article discusses the recent surge in Bitcoin prices following the US presidential elections. Bitcoin reached nearly $100,000 and reinvigorated the altcoin market, now with a market cap of $1.49 trillion. The article explores the relationship between Bitcoin and altcoins, emphasizing Bitcoin’s role as a market benchmark tethered to physicality through computing power.
The piece delves into the reasons behind Bitcoin’s dominance in the crypto market and how it influences altcoin performance. It also highlights the impact of the Federal Reserve’s monetary policies on the crypto market, especially during the ICO era and the recent collapse of over-leveraged assets.
Furthermore, the article discusses the rise of memecoins and their dominance in the market, driven by social media hype cycles. It also touches on the performance of different altcoin categories compared to Bitcoin and the evolving narrative in the crypto space.
The piece concludes by mentioning the resurgence of older altcoins aligning with Bitcoin’s recent bull run and the potential impact of regulatory changes on the crypto market. Overall, the article provides insights into the dynamics of the crypto market and the evolving trends shaping the industry.
