Bitcoin

<ul><li>Bitcoin dominance is near levels seen before past alt seasons, signaling potential gains for altcoins.</li><li>Altcoins is testing long-term trendline support, which has historically led to significant price increases.</li><li>The MACD indicator suggests a possible bullish shift for altcoins, mirroring past altseason patterns.</li></ul>The cryptocurrency market is buzzing with speculation about the potential for a new altseason, as highlighted by analyst Moustache. Historically, significant shifts in Bitcoin dominance have often heralded a period where altcoins outperform Bitcoin. This cycle of dominance shifts has been a recurring theme in past alt seasons, creating a pattern many investors are closely watching for signs of a repeat in 2024.A closer look at <a href="https://cryptotale.org/bitcoin-dominance-hits-58-amid-market-rout-whats-next/" rel="noopener noreferrer nofollow">Bitcoin&#39;s dominance </a>reveals intriguing patterns. The chart tracking Bitcoin dominance over several years highlights notable drops during previous altseasons. Specifically, a substantial decline in Bitcoin dominance in 2017, 2020, and 2021 signalled a strong altcoin performance. As Bitcoin’s share of the total cryptocurrency market cap decreased, altcoins surged, showcasing their relative strength.<a href="https://cryptotale.org/can-bitcoin-dominance-decline-trigger-a-new-altseason-analyst-weigh-in/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Can Bitcoin Dominance Decline Trigger a New Altseason? Analyst Weigh In

CryptoTale

Other articles published on Aug 14, 2024

Crypto Trading Platform ezBtc Allegedly Diverted $9.5M Customer Funds to Gambling Sites

Binance Delists Trading Pairs

Ethereum Sees Surge in On-Chain Activity as Institutional Investment Soars

Michael Saylor's MicroStrategy Plans to Raise $2B to Buy More Bitcoin

Avatar.One Helps Over 120K Active Users Battle the Loneliness Epidemic with 3D AI Companions

Ledger Partners with Revolut

Join our free newsletter for daily crypto updates!