Bitcoin’s Dominance Shows That Altseason May Be Over… For Now

Bitcoin’s insane 2020 uptrend has allowed the benchmark cryptocurrency to rally from lows of $6,800 to highs of $10,500. Although these gains are nothing to scoff at, this bullishness has spilled over into the altcoin markets, allowing some other cryptos to significantly outperform BTC.

Some of the altcoins that have outperformed Bitcoin include Ethereum, Tezos, and Chainlink, which have all seen uptrends that are emblematic of those seen in the early days of 2017.

In the near-term, however, the market wide altcoin bull run may soon draw to a close, as Bitcoin’s dominance looks as though it’s about to surge higher, coming at the expense of altcoins.

Bitcoin’s Dominance Suggests Altcoins are About to See a Notable Pullback

The past few days seem to have shown that there is still significant interest in altcoins amongst investors, with some even being able to set fresh all-time highs.

Chainlink, which has been one of the top performing cryptocurrencies throughout both 2019…