Bitcoin has brought the living dead back to life

Bitcoin has entered bull run mode. Donald Trump’s victory in the U.S. presidential election has sent the price of the digital currency soaring (now approaching $80,000). The president-elect has promised to encourage the development of the cryptocurrency industry in its many facets.

The rise of bitcoin is dragging numerous altcoins (non-bitcoin cryptocurrencies) upward. As reported by CryptoNews this morning, at the time of publishing this news All cryptoassets in the top 100 by market capitalization, with the exception of stablecoins, are with their weekly numbers in green.

And no one wants to be left out of the bullish party. The market’s generalized rise is making even the most experienced cryptocurrencies which have been in a downward trend for months are “waking up.”

This is, for example, the case of cardan (ADA) which has risen 84 percent in the past four days, reaching figures not seen since April 2024.

In the chart below, one can see at a glance that the cryptocurrency created by Charles Hoskinson has been in sharp decline for most of the year.

Another altcoin that gives some signs of starting to wake up (though not yet with the energy its investors expect) is XRP, the cryptocurrency issued by the company Ripple.

XRP’s behavior has been erratic so far in 2024, but it is likely to have a sideways trend.

Will this rally lead it out of the sideways channel and into a strong bullish trend? Maybe yes…maybe no…for now we can only say that XRP is threatening to rise. We will have to wait and see if it does.

Another cryptocurrency that can be described as “dead about to be resurrected” is. bitcoin SV (BSV)Formerly called “bitcoin satoshi vision.” This fake bitcoin promoted by Craig Wright (whom we affectionately know as “Faketoshi”) had a markedly bearish first half of the year. Starting in July he began a slight upward trend, which was triggered in the last week.

We will have to wait to see if this BSV uptrend will be sustained over time or if it is just a passing trend. In any case, the BSV is at 87 percent below its all-time high reached in April 2021.

And finally (not to overstretch this list, which could include dozens of examples) we will mention bitcoin cash (BCH)another digital asset that aims to replace bitcoin by appropriating its name.

The “bitcoin that can be used to pay for coffee,” as its promoters like to say, has had a mostly bearish year. Last week’s rise gives some hope (just a little) to those who have decided to float this altcoin, as it has pushed its price to levels not seen since August 2024:

Although there are more than 100 cryptocurrencies in the green, there is still no declared altseason, according to reports from the definition Of BlockchainCenter.

This organization determines that there is an “altseason” (or altcoin season) if 75% of the top 50 coins have performed better than bitcoin in the past 90 days.