Forecasts regarding bitcoin and the rest of the altcoin market are becoming as optimistic and bullish as possible. Facts and graphs are stubborn things, they can't lie when it comes to the cryptocurrency market, since this is the cornerstone of the entire crypto market. Now more than ever, you can see the introduction of new investors, a huge number of holders and a bullish wind of change. Now bitcoin continues its upward movement.
This month, it tested its summer high by reaching the level of $50,500. If it manages to overcome this milestone and consolidate, then bitcoin can go up with great speed, up to its record highs. Now bitcoin continues its sideways movement, holding a large 200-day moving average.
Also, do not forget about the impending golden cross for bitcoin. The altcoin market is also not asleep and is gaining momentum. Bitcoin's dominance is no longer an indisputable factor and continues to decline. Over the past couple of days, the decline in the dominance of bitcoin continued by another 2%, in total, the decline in the dominance of bitcoin was almost 8% in August.
Now the main altcoin ethereum has taken over the palm, it has recorded an increase of more than 10% and has already been growing for about 3 weeks. Now ethereum is trading at the level of $3,553, there are all the prerequisites to break through the milestone of $4,000 in the fall, in the fourth quarter of this year.
If ethereum is moving up, then, accordingly, other altcoins will also gain momentum, in particular, this is cardano - the main surprise and discovery of this year. Solano and polkadot are the cryptocurrencies that can be observed in a long bullish movement. Cardano has its own smart contracts, which will be launched this month, namely on the 12th.
Polkadot has also significantly increased in its value due to the parachain auctions, which are due to take place in the near future. Solano is also impressive and shows a significant increase over the past seven days, where it was possible to observe an almost 100 percent increase.
Now solano can really be considered as a worthy opponent of cardano, polkadot, and the king of altcoins ethereum itself because of its fast transaction speeds.
