Bitcoin Leads Charge Of Large Cap Altcoin Dominance In October
Bitcoin has regained dominance over the market in recent times. The digital asset has seen price recover towards previous highs, with less than 1% left for it to surpass its previous all-time high. This has so far renewed faith in the asset and the market and has seen sentiment move into the positive in the broader crypto market. Bitcoin has not shown any signs of slowing down since then. On the index side, bitcoin has not taken any prisoners in its market domination. The digital asset has crushed every single index in the market and has outperformed indexes from small to mid-size, bar the....
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Altcoin season is a phrase that is quite popular throughout the crypto market. The phrase refers to the run-up in the prices of altcoins after the price of bitcoin slows down. The altcoins usually see an uptick in their individual and collective market dominance, taking even more market share from the top cryptocurrency, bitcoin. As the coins become more valuable, their prices soar following the increased market share. An altcoin season usually sees most of the altcoins in the market rallying at the same time. With Ethereum’s price mostly leading the charge once the prices start surging.....
With bitcoin rallying, all the focus has been on predicting where the price of the asset will be by the end of the year. The digital asset is undoubtedly going to enter a period where various crashes will send the price down, popularly known as a bear market. Not a lot of attention has been paid to where the price of the asset might bottom out when the market inevitably goes into another bear market. This usually long stretch of low momentum has seen bitcoin lose 94%, 87%, and 84% of its peak value respectively in the last three bear markets. One recurring theme of the bear markets has....
In this episode of NewsBTC’s daily technical analysis videos, we are analyzing Bitcoin dominance (BTC.D) and how the top cryptocurrency might perform in the near term against altcoins. Take a look at the video below: VIDEO: Bitcoin Dominance Versus Altcoins (BTC.D): October 20, 2022 In addition to the video highlights listed below the video, we also analyze BTC.D using the Ichimoku, Average Directional Index, LMACD, and other technical tools. Related Reading: Is The Final Wave In Ethereum Up Next? | ETHUSD Analysis October 19, 2022 Bitcoin Outperforms Altcoins During Sideways....
Altcoins are stepping into the spotlight as Bitcoin comes down from months of all-time highs, but can conditions stay favorable for long? Bitcoin (BTC) now accounts for less than 60% of the total cryptocurrency market capitalization, heralding the arrival of "alt season 2.0."In a tweet on March 29, analyst Filbfilb, co-founder of trading suite Decentrader, announced that conditions were finally right for a fresh altcoin surge as their total market capitalization is hitting new highs of nearly $750 billion.Altcoin market capitalization. Source: CoinMarketCapBitcoin dominance at its lowest....
BTC dominance has always had an inverse effect on the price movements for altcoins. Historically, BTC dominance determines the direction the value of altcoins swings in. Bitcoin has so far maintained majority dominance on the market. But as more time passes, that dominance goes down as altcoins see more demand. BTC dominance simply shows how much demand there is for bitcoin compared to altcoins. The more BTC dominance rises, the lower the demand for altcoins. This means that for altcoins to rally up further, bitcoin demand has to go down. Related Reading | Ethereum Breaks 200,000....