RATE Group | Fading Bitcoin (BTC) Dominance Could Signal a Possible Altseason
89395
post-template-default,single,single-post,postid-89395,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
 

Fading Bitcoin (BTC) Dominance Could Signal a Possible Altseason

28 May Fading Bitcoin (BTC) Dominance Could Signal a Possible Altseason

Posted at 05:07h in Bitcoin News by

In brief:

  • Bitcoin’s dominance in the crypto markets has started to fade.
  • BTC halving hype has reduced. Therefore, traders and investors might switch their attention to other digital assets.
  • The alt-coin market capitalization continues to steadily increase as Bitcoin battles to keep its head above $9,000.

The Bitcoin halving is now firmly behind us and the hype surrounding the event has begun to fade away. Prior to the halving, and on the 7th of May, the dominance of Bitcoin had peaked at 69%. Its dominance dropped a bit during the halving to around 67.5% according to Tradingview. However, BTC’s dominance would once again retest the 69% level on the 14th of May. At the time of writing this, the same Bitcoin dominance now stands at 67%.

The screenshot below provides a better visual cue of Bitcoin’s dominance in the month of May.

Fading Bitcoin (BTC) Dominance Could Signal a Possible Altseason 14
Bitcoin dominance in the month of May courtesy of Tradingview.com

Fading Bitcoin Dominance Could Provide an…

Source link

Tags:
, , , , ,