Bitcoin Dominance Continues To Rise, Dashing Hopes Of An Altseason

As the price massacre continues from the weekend, altcoin holders face further anguish by way of rising Bitcoin dominance. As things stand, Bitcoin dominance is at 66%, a level not seen since April 2017.

Several analysts see this trend continuing, with predictions of dominance rising to the 70%-80% mark. The implications of which would put paid to a much-needed altseason. Nonetheless, despite the slide in prices, Bitcoin maximalists can find a crumb of comfort in this.

Market cap percentage split showing Bitcoin dominance at 66% — courtesy of CoinMarketCap.

Bitcoin Dominance Continues To Rise

Bitcoin is currently priced at around $10,300, but has been on a downward course for the past week or so. This follows the failure to breach strong resistance at $13,800, during the parabolic run-up late last month.

While this still represents a 170% increase since the start of the year, the hopes of an overspill into the alts remain somewhat subdued. Indeed, with Bitcoin dominance on an upward…