BTC Dominance Drops as Bitcoin Breaks Uptrend: Is Alt Season Finally Here?

BTC Dominance Drops as Bitcoin Breaks Uptrend: Is Alt Season Finally Here?
фото показано с : newsbtc.com

2019-7-25 04:01

Throughout much of 2019, Bitcoin has vastly over performed most of the altcoin market, except for a select few such as Litecoin, which saw increased buy pressure ahead of its halving – an event that sees the reward miners receive in a crypto asset reduced in half.

But BTC dominance has been in a strong uptrend alongside Bitcoin itself, which went parabolic starting in April, resulting in over 300% gains before its rally topped out at $13,800. Recently it set new highs as altcoins capitulated, but now it’s began to decline, its uptrend has been broken much like Bitcoin’s, and the alt season that crypto investors have been waiting for may finally be here.

Alt Season When? BTC Dominance Drops Off After Bitcoin Rally Begins to Correct

BTC dominance has steadily grown since the massive $1,000 green candle that happened back in April, sending Bitcoin on a parabolic rally that has taken the entire world by storm. But before Bitcoin could reach a new all-time high, its parabolic rally is in serious jeopardy, and the first real correction since the rally began is playing out.

Related Reading | Altcoins May Never Again Reach All-Time High, Even if Bitcoin Hits $100K

The correction that hit Bitcoin, also has caused BTC dominance to correct, and its uptrend has been broken. BTC dominance has fallen from a high of near 67%, to under 65%. But it’s the uptrend line that’s been broken that is significant. With BTC dominance potentially ready to plummet, could this finally be the alt season crypto investors have been waiting for?

What Happens to the Crypto Market if Dominance Rises?

It’s worth noting, that Bitcoin fell below support turned resistance at 67% dominance as the 2017 bull run really heated up, and has never again breached that level. Prior to falling below, Bitcoin enjoyed most of the market’s life well above 75% dominance. While an alt season is certainly possible, could the resistance at 67% simply the last stop before Bitcoin reclaims its full dominance, and the rest of the crypto market continues to bleed out the rest of its value until much of the altcoin space no longer exists?

If this happens, altcoins will never again reach their all-time high prices that happened back in 2017, and investors will need to accept that alt season was a once in a lifetime opportunity. In fact, new data shows that if altcoin ratios against BTC were to maintain, they would never again reach a new all-time high in USD – even if Bitcoin were to reach $100,000 USD per BTC.

Related Reading | Bitcoin Price at $10,000 is in Danger As Bulls Begin to Lose Support

But this scenario only entertains the idea of altcoins maintaining their ratios. Should BTC dominance continue to rise well above 67% the offset will need to come from value leaving the altcoin market, and not only will they never reach another all-time high, they may be doomed completely.

The post BTC Dominance Drops as Bitcoin Breaks Uptrend: Is Alt Season Finally Here? appeared first on NewsBTC.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 68595.26 (-0.46%)
Объем 24H $41.966b
Изменеия 24h: -0.32 %, 7d: -3.55 %
Cегодня L: $66916.68 - H: $68910.37
Капитализация $1356.677b Rank 1
Цена в час новости $ 9458.57 (625.22%)

btc bitcoin dominance finally season breaks drops

Источник: newsbtc.com

btc bitcoin → Результатов: 126


Japan’s Metaplanet’s Bitcoin Holdings Rise to 530 BTC After Pulling Off Mind-Blowing Strategy

According to the latest announcement from Japanese investment firm Metaplanet Inc., its Bitcoin holdings have surged, rising to 530.717 BTC as of October 3. As revealed by the Tokyo-listed company, this increase in its Bitcoin bags was possible due to a smart options trading strategy, which led to the company earning more BTC and adding […]

2024-10-4 21:00


Фото:

Bitcoin STHs Supply Decreases By 1.31M BTC – A Sign Of Growing Confidence?

Bitcoin has remained above $60,000 for the past two weeks, holding strong as the broader crypto market bulges. This steady performance is fueling optimism among traders and investors alike.  According to key data from CryptoQuant, short-term holders are now selling for profit, leading to a notable decrease in BTC supply. This reduction in available BTC […]

2024-9-30 19:00


Bitcoin wallets dormant for 15 years move BTC after touching highs above $64,000

Satoshi era bitcoin wallets dormant since 2009, have moved 250 BTC to new wallet addresses The five wallets transferred BTC in batches of 50 coins each Bitcoin price traded around $63,500, having touched highs above $64,000 across major exchanges Several Bitcoin (BTC) miner wallets dormant for over 15 years have moved 250 BTC worth over […] The post Bitcoin wallets dormant for 15 years move BTC after touching highs above $64,000 appeared first on CoinJournal.

2024-9-21 12:46


Bitcoin Preparing for a Bullish Phase – New Cryptos to Hold During BTC Expansion

Despite the current bearish market sentiment, many seasoned analysts believe that Bitcoin (BTC) could soon break the $60k psychological barrier and lead the wider market into a bullish phase. The reason for this was explained in a recent post by Bitcoinsensus, suggesting that BTC whales are trying to position themselves for the next bull run.

2024-9-5 17:30


Bullish Bitcoin News? US Federal Reserve Set To Implement Three Rate Cuts This Year

As global economic uncertainty looms, Bitcoin (BTC) has experienced increased volatility and is struggling to maintain its footing above critical resistance levels lost over the past month. The largest cryptocurrency on the market remains in a precarious position, but emerging signs could bode well for the BTC price and the broader crypto ecosystem.

2024-8-30 03:30


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

BLOCNETS launches RATIO, a blockchain supply chain service

BLOCNETS, the intelligent supply chain on the blockchain, today announced RATIO, a blockchain-as-a-service that enables companies to obtain the management line of sight, security and productivity they need to dramatically improve performance across the extended supply chain.