Bitcoin Dominance Tipped To Crash 35% — Major Altseason Ahead?
Prominent market analyst Egrag Crypto is predicting an altseason of substantial magnitude following recent developments on the Bitcoin Dominance (BTC.D) chart. This latest technical commentary adds to the continuous list of speculations on the time and fashion of a rather peculiar and highly anticipated altseason. Related Reading: Crypto Founder Predicts Ethereum Price To Touch $20,000 As Fed’s Powell Turns Dovish Here Comes The Mother Of All Altseasons – Analyst The nature of any potential altseason in the present market cycle has been a consistent debate over the past few months.....
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After recent robust bullish performances by several altcoins, multiple analysts have tipped the altseason to have begun, building momentum for a major price explosion in the coming weeks. Interestingly, popular analyst EGRAG Crypto has weighed in on the discourse around a highly-anticipated altseason, predicting a potential market inflow of $627 billion. Related Reading: Altcoins See Massive Inflows Amid Bitcoin’s Record Rally, But 2021 Bubble Warnings Persist Bitcoin Dominance To Crash By 33% As Altcoins Fly – Analyst In an X post on Friday, EGRAG Crypto provided valuable insight on....
The Bitcoin dominance in the cryptocurrency market is inching dangerously close to a long-term resistance level that has triggered major reversals in the past. This resistance level is highlighted on the weekly BTC.D candlestick timeframe chart. Each time the dominance taps this descending trendline, it struggles to break through and eventually tumbles. Notably, Bitcoin’s dominance is now back around this resistance, and a technical outlook posted on the TradingView platform points to a crash to 40% within the next months. Bitcoin Dominance Could Crash To 40%: Good For The Altcoin....
It happens every cycle. During a bull run, Bitcoin reaches some kind of temporal stability and traders get bored. And if a sharp drop in prices mixes with that, traders run out of the building through the window. It’s human nature. It’s Altseason. The grass is always greener on the other side. Related Reading | […]
CEO and Co-founder of crypto education media firm Coinbureau, Nic Puckrin has shared a “realistic” take on the altseason. The former TradFi entrepreneur and prominent digital asset advocate has highlighted three necessary conditions to usher in an altseason. Related Reading: Bitcoin Escapes Tight Range After Week Of Compression – Next Stop $100K? Altseason Still On […]
In the past week, Bitcoin recorded a net negative performance translating into a 5.73% decline in market prices. However, the premier cryptocurrency boosted its market dominance amid this turbulence as the altcoins suffered a larger collective loss. Interestingly, popular market analyst Egrag Crypto predicts Bitcoin Dominance could soon retrace indicating a potential short-term bust for the altcoin market. Related Reading: Bitcoin Still In Bull Market, On-Chain Indicator Confirms Bitcoin Dominance Forms Adam & Eve Pattern – Key Levels To Watch As Bitcoin prices moved with much....