The recent decline in Bitcoin (BTC), Ethereum (ETH), and altcoins appears to have jeopardized the long-awaited altcoin rally. Despite the recovery following the decline, analysts warn about the altcoin rally and say that the rise in altcoins may be short-lived. According to DL News, Bitfinex analysts said that the altcoin market lacks the sustained capital flow and structural demand needed for explosive growth. Bitfinex analysts stated that individual interest in altcoins has increased at this point, but the current rises lack sustainable capital and demand. Google Trends data shows that altcoin search interest surpassed Bitcoin in July, but sharp price drops and Bitcoin dominance suggest investors remain cautious of altcoins, according to analysts. Furthermore, analysts stated that any rally in altcoins is likely to be short-lived until conditions change, and the overall market will remain vulnerable to a recession. Bitfinex analysts recently added that Bitcoin and altcoins could enter a period of consolidation, but new macro events or strong inflows into crypto ETFs could quickly change this. *This is not investment advice. Continue Reading: Attention Altcoin Rally Expecters: Are Rally Hopes Over? Bitfinex Announces!
