All across the brutally beaten crypto market, altcoins are beginning to show their first signs of a potential recovery following a nearly 90% drawdown in most assets. But could the recovery be due to a calendar-based phenomenon called the January effect?
Crypto Altcoins Explode To Start Off The New Year
Take a look at CoinMarketCap’s top crypto gainers and losers over the last seven days, and the returns from many top altcoins are reminiscent of the previous bull market in Bitcoin and other coins.
GALA, for example, tops the list with 138% growth in the last week. Lido DAO is right behind with 61% in a week. Dozens of altcoins have surged 20% or more in the same timeframe. Even specific altcoins caught up in the FTX-related fallout, such as Solana, have posted the largest monthly bullish candle since August 2021.
January, and 2023, are off to quite the start for anyone daring enough to buy the dip. But why exactly are altcoins experiencing such strong performance relative to Bitcoin
We współpracy z: https://bitcoinist.com/the-january-effect-crypto-altcoins-2023/
