- Bitcoin Dominance, what will play out next?
- Analyst shares his detailed analysis on Bitcoin Dominance.
- The price of BTC could hit higher highs, but what could lead to it?
As Bitcoin staggers between the $97,000 and $98,000 barely moving and holding steady, analysts are beginning to think that the time for altcoins to dominate is near. Presently, the crypto market is in a ‘Fear’ state with a score of 35 according to CoinMarketCap’s Crypto Fear and Greed Index.
Analyst Breaks Down Detailed BTC Dominance Analysis
Moreover, the same analytics point to a Bitcoin Dominance of 60.9%. With altcoins showing more and more bullish indicators on their price charts analysts are certain altcoin dominance will take over and a string of new ATHs will arrive for popular, net, and highly potent altcoins thus ushering in the peak of this bull cycle’s altseason.
One analyst goes on to share his detailed analysis on the next moves for Bitcoin Dominance, In detail, he says that there is a lot of speculation about whether Bitcoin Dominance will even be able to revisit the 71% resistance. Historically, everything BTC DOM has broken into the 58-71% macro range, it would revisit 71%.
What Could Play Out Next for BTC?
So far, this has happened 3/3 times and history suggests the Bitcoin Dominance Macro Tops don’t seem to change much across time However, the Bitcoin Dominance Macro Bottoms have clearly been occurring at Higher Lows (blue), he says.
Therefore, looking even further into the future, after the Macro Top near 71% occurs, he concludes, that the next Bitcoin Dominance Macro Bottom would likely occur near the Macro Higher Low (blue), somewhere between the 41.5-42.5% mark, referring to the image in his post above.
