Altcoin prices jumped a few percentage points Friday night among price stagnation from Bitcoin. Typically, any drastic movement in the price of Bitcoin is a bad recipe for altcoin gains. After days of sustained positive price trends from Bitcoin, investor confidence in altcoins seems to have jumped as markets stabilize.
Though most altcoins have a long way to go in order to recover 2017 highs, it’s hard to see much more decline than what has already occurred. Altcoins have suffered a brutal march to rock-bottom prices over the past couple of years and coming back from it figures to be a long journey.
If Bitcoin’s price can hold steady, it seems apparent that this could be the time that altcoins start to make meaningful positive steps towards regaining previous healthy price levels.
Though sentiment for altcoin prices is obviously at an all-time low, not much has changed for these coins in the way of fundamentals. The market remains healthy from a technology standpoint and many projects continue to deliver promising tech that gives good value to these projects at a nationwide or worldwide scale. Friday’s price action could very well represent the start of a year-long trend and many cryptocurrency investors remain hopeful that it’s the case.