Bitcoin May Bottom in October While Altcoins Are 'Basically Dead'

Not all cryptocurrencies are created equal — and right now, most of them are being left behind. According to the CEO of Swan (a Bitcoin-focused company), Bitcoin could hit its lowest price point in October before recovering, while smaller cryptocurrencies known as altcoins are "basically dead."

First, let's break down the key terms:

• Bitcoin (BTC): The largest and most well-known cryptocurrency (digital money that runs on computer networks instead of banks).
• Altcoins: Any cryptocurrency that is *not* Bitcoin — think of thousands of smaller coins like Solana, Cardano, and many others.
• Bottom: The lowest price something falls to before it starts going back up.

A crypto market maker (a firm that helps buy and sell coins to keep trading smooth) called Wintermute explained the shift in a July report:

• Big institutional investors (large professional players like hedge funds and banks) have entered the crypto market.
• These investors prefer to put their money into a few favored coins rather than spreading it across thousands of small ones.
• This means money and trading activity are concentrating in just a handful of assets.
• The rest of the market — what experts call the "long tail" (the huge number of small, less popular coins) — is seeing activity dry up.

In the past, when Bitcoin did well, money would eventually "trickle down" to smaller coins, creating what's known as an "altseason" (a period when altcoins rise sharply). Now, that trickle-down effect is weaker. Rallies (periods of rising prices) have become narrower and more selective, benefiting only a small group of winners.

The bottom line: The crypto world is becoming more focused on Bitcoin and a few strong performers. For beginners, this is an important reminder that most small cryptocurrencies carry high risk and may not recover the way Bitcoin might. Always be cautious and never invest more than you can afford to lose.

This is an AI-generated summary. Read the original article at: https://cointelegraph.com/markets/bitcoin-bottom-october-altcoins-basically-dead-swan-ceo?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound