RATE Group | What Could Trigger the Next Cryptocurrency Alt Season?
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What Could Trigger the Next Cryptocurrency Alt Season?

17 Nov What Could Trigger the Next Cryptocurrency Alt Season?

Posted at 16:20h in Cryptocurrency News by

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Bear market-weary cryptocurrency traders often ask “when moon/lambo” or other representation of their fortunes turning around. In particular, though, I’ve heard the concept of “alt season” often repeated recently by traders invested in projects other than Bitcoin, which has fared significantly better to date than most other cryptocurrencies since the 2018 crash. What are the signs that the markets will turn back towards the rest of the sector? I can give you one tried and true metric to watch: Bitcoin scaling.

Bitcoin’s absolute market dominance has slowly, and unsurprisingly, trended down over time

coinmarketcap total market capitalization dominance nov 17 2019

Bitcoin’s market dominance (source: CoinMarketCap)

Since the inception of what has come to be known as the alt sector, Bitcoin’s percentage of the total value of all cryptocurrencies and related digital assets has slowly declined. This is no indictment of Bitcoin and should come as no surprise to anyone that the first of its kind and overwhelming industry…

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