Traders pile into altcoins after Bitcoin bulls take hold of $50K

Bitcoin has risen above $50,000, and bulls are trying to achieve a daily close at the much-disputed level.

BTC’s strength has helped to kickstart momentum for altcoins. At the time of writing several tokens are experiencing gains exceeding 20%.

The top 7 coins that saw the largest 24-hour price changes. Source: Cointelegraph Markets Pro

Cointelegraph Markets Pro and TradingView data show that Linear (LINA), Secret(SCRT), and Presearch (PRE) were the largest gainers in the last 24-hours.

LINA is closer to launching full governance features

Linear, a distributed delta-one asset protocol, is cross-chain compatible with the Ethereum (ETH), and Binance Smart Chains (BSC). The network allows liquid synthetic assets to be created, traded and managed.

Cointelegraph Markets Pro data shows that market conditions have been favorable for LINA for some time.

Cointelegraph’s exclusive VORTECS(tm), Score is an algorithmic comparison between historical and current market conditions. It is based on a combination data points including market sentiment, trading volume and recent price movements, as well as Twitter activity.

VORTECS(tm), Score (green), vs. LINA Price. Source: Cointelegraph Markets Pro

The chart shows that LINA’s VORTECS(tm), Score climbed to the dark green zone on September 29th and reached a peak of 93 just 26 hours prior to the price increasing 73% over the next four day.

This momentum surge comes after Linear DAO released more details about its upcoming launch, which will include a new governance system that supports community voting.

SCRT rallies ahead its Supernova upgrade

SCRT is the native currency for the Secret Network. It is a blockchain protocol that has built-in data privacy to allow smart contracts and decentralized applications to be permissionless and privacy-preserving.

Data from Cointelegraph Markets Pro showing a bullish outlook on SCRT, VORTECS(tm), began to show up on Sept. 30, before the recent price increase.

VORTECS(tm), Score (green), vs. SCRT Price. Source: Cointelegraph Markets Pro

The chart shows that the VORTECS(tm), Score for SCRT rose into the green on September 29 and reached 75 on September 30, twelve hours before the price of SCRT began to rise by 135%.

As the protocol prepares for its Supernova protocol update, which will allow integration with the Cosmos Inter-Blockchain Communication protocol (IBC), the price of SCRT has risen.

Related: Evolve, or die: How smart contract are changing the balance of power in the crypto sector

PRE partners with CoinMarketCap

Presearch, a decentralized blockchain search protocol that allows users to search privately and rewards them for their efforts, is community-driven.

VORTECS(tm), data from Cointelegraph Markets Pro, began to detect a bullish outlook on PRE on Oct. 2, before the recent price rise.

VORTECS(tm), Score (green) vs. Pre price. Source: Cointelegraph Markets Pro

The chart shows that the VORTECS(tm), Score for PRE rose into the dark-green zone on Oct. 2, and hit a peak of 88 just 3 hours later. This was before the price started to rise by 50% over the next three working days.

Presearch’s price rally was caused by the announcement of a partnership between CoinMarketCap and the Presearch search engine.

The total cryptocurrency market is now worth $2.17 trillion, and Bitcoin’s dominance rate at 43.1%.

com. You should do your research before making any investment or trading decision.

https://cointelegraph.com/news/traders-pile-into-altcoins-after-bitcoin-bulls-take-hold-of-50k