RATE Group | Altcoins May Finally Start to Outperform Bitcoin (BTC): Let’s Take a Look
58654
post-template-default,single,single-post,postid-58654,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Altcoins May Finally Start to Outperform Bitcoin (BTC): Let’s Take a Look

19 Aug Altcoins May Finally Start to Outperform Bitcoin (BTC): Let’s Take a Look

Posted at 09:00h in Bitcoin News by

[ad_1]

At long last, altcoins may be able to gain some ground against Bitcoin, which has been absolutely slamming practically every other crypto asset for a year now. Let’s take a closer look.

Bitcoin Dominance Poised to Falter

Ever since the start of this recent surge, Bitcoin dominance, the percent of the cryptocurrency market’s capitalization that is sourced from BTC, has surged higher. In fact, since the start of 2019, this figure has rallied from 52% to just shy of 70%, which, in a market worth hundreds of billions, is a move worth paying attention to.

However, as the Bitcoin price has entered a “chop” over the past few weeks, with BTC finding itself stuck between $9,500 and $12,000, altcoins have started to show influxes of strength. This is purportedly culminating in a rising wedge in the Bitcoin dominance chart, which, for those unaware, is a technical pattern that often sees the asset/trend break lower. Rising wedges are marked by tightening ranges and a decrease in…

[ad_2]

Source link

Tags:
, , , , , ,