Polkadot has become a favorite of investors since September 2020. In fact, it is possible to see such an increase in other coins. With this rise, which started with the rise of Bitcoin and then gained momentum towards Altcoins, many investors made significant profits. Now, many people are asking questions about where the next move will be headed with decreasing upward momentum. Experts on the subject continue to put forward different opinions. One of these experts, Osprey Funds CEO and founder Greg King, gave his opinion on the popular altcoin Polkadot.
Why did Polkadot rise?
Polkadot has risen more than 1,200% since the trade started in September 2020. It is currently the eighth largest coin by market value. At this point, it is important to explain the reason for the rise. Greg King, CEO and founder of Osprey Funds, recently founded the Osprey Polkadot Trust, a fund based on Polkadot coin for private placement. He said one of the reasons for the rise was “Altcoin season,” when altcoins performed better than larger cryptocurrencies like Bitcoin during the bull rally.
Undoubtedly, the Altcoin season is taking place at a time when Bitcoin dominance has dropped significantly. Especially, we witness the rise of altcoins with small value in terms of market value by 10x and above. In this respect, in a future altcoin season, the price increase may undoubtedly be better than the increase of Bitcoin.