Bitcoin doesn’t reach $30k and this altcoin has gained more than 100% in the past 3 months

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Last Updated on 6 November 2023 by CryptoTips.eu

Bitcoin didn’t manage to break through the $30,000 mark and now seems caught in a broad trading band between $27,000 and $29,500. Much will now depend on the Fed decision of Wednesday, May 3. That news will affect both stocks and crypto.

Furthermore, beware of flash crashes if there is any news about the Mt Gox wallets.

Some altcoins continue to rise sharply. Today we’ll discuss one that has already gained up more than 100% in the last three months.

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Bitcoin season

Even though the whole of crypto twitter is shouting that altseason is coming (the period when Bitcoin is flat, usually after a strong rally, and investors are diversifying into altcoins, causing them to rise very quickly), it is still Bitcoin season right now.

The rule to calculate it is the following. If 75 percent of CoinMarketCap’s top 50’s smaller coins outperform Bitcoin over the last 90 days, then it’s Altcoinseason.

If Bitcoin outperforms 75 percent of the top 50 coins on average, it’s still Bitcoin season; Of course, that’s not to say there aren’t altcoins out there having a fantastic time. Here’s one that’s up more than 100% in the last 90 days.

Render token

At the beginning of February, the hype about AI programs such as Dall-E and ChatGPT was far bigger than it is now. Back then we introduced our readers for the first time to the Render Token, the small crypto coin that specializes in providing spare computer power to allow it’s user to make 3D visuals. Normally you need a very expensive and fast computer for something like that, but thanks to the render network you can do that on the internet as well.

The comeback of Meta (which has a division specifically for virtual worlds) on the stock market this year is also a big plus for Render Token. Even ChatGPT, which requires more and more spare computer power, could possibly rely on the Render network. Because of all those reasons, this little crypto coin is having a really good 2023 (so far).

Render Token was still around 40 cents at the beginning of this year. At the time of writing, it is trading at $2.38.

KostyaKlimenko / Depositphotos.com

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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