Consider picking up some altcoins as they may soon enter a more robust bull market. Ethereum (ETH) has retraced to $3,544.92 amidst speculation regarding potential rejection of its ETF applications. Nevertheless, there's optimism for a rebound in the coming years. Solana (SOL) has seen a modest 0.66% climb in the last 24 hours, while Dogecoin (DOGE) appears poised for a correction phase to accumulate.

Attention is shifting towards how Bitcoin Halving could impact their trajectory once concluded.

What's the potential impact of BTC Halving on altcoin performance?

BTC halving entails reducing the token supply, elevating its scarcity and consequently driving up its price. It also lowers Bitcoin mining rewards to maintain mining activity within certain limits. While scarcity benefits BTC, analysts suggest it could also draw attention to altcoins in the market.

There are two perspectives on the crypto market: firstly, BTC's price may limit widespread access to the token, and secondly, the entire market could surge, prompting interest in tokens promising short-term gains. This trend is already evident in meme and AI tokens.

BTC's price is anticipated to rise regardless, given no decline in ETF inflow. Conversely, Altcoins are tethered to Bitcoin's fate. ETH serves as a prime example, often leading trends in response to BTC's performance.

In essence, Bitcoin halving may drive up BTC's value, subsequently lifting other cryptocurrency prices. Altcoins are attractive to new users due to their relatively lower prices. However, BTC and ETH remain safer assets with potential for faster growth at the onset of a bull run.

Bitcoin halving is tentatively scheduled for mid-April or by April 21, 2024, with its effects expected to manifest in the days following the event.

Analyst insights on altcoin rally post BTC Halving

Prominent crypto analyst Michaël van de Poppe suggests that BTC may lose dominance post-halving, as its valuation of altcoins is relatively low, indicating strong interest in altcoin purchases. He notes that while BTC is nearing its all-time high (ATH) with limited community interest, altcoins are at a low point, presenting a unique opportunity for investment.

Van de Poppe further suggests that altcoins' market capitalization is poised for continuation, hinting at potential future growth.

Conclusion

Both Bitcoin and altcoins are subject to volatility, with the community eagerly anticipating their rise. BTC holds promise for significant gains, while altcoins offer affordability and accessibility, appealing to those seeking short-term profits.