- Bitcoin dominance and altcoin dominance battle it out, which will take the lead?
- Bitcoin shows a correction fractal pattern mirroring previous bullish signs.
- Altcoins too are showing highly promising patterns similar to the previous bull pump.
Presently, the crypto market is in a challenging state. The price of Bitcoin set a bullish ATH at the $108,000 price range only to drop remarkably to the $92,000 price range. In the last few days, the price of BTC has been moving in a slow sideways momentum taking the price from $93,000, $98,000, to now, $96,000.
Bitcoin Dominance Steady Fall
While many analysts debate over what will play out next in the crypto market, most expectations come from the movement of Bitcoin dominance and altcoin dominance, which one will fall to let the other dominate in the coming months. In the midst of these expectations, one analyst shares an interesting repetitive pattern.
As we can see from the post above, this analyst sees a Bitcoin corrective fractal where BTC price action is closely resembling the same pump as the last bull cycle. Only this time, it seems the pump may arrive 3 weeks ahead of schedule, meaning a significant pump may be in store for Bitcoin price.
Altcoin Dominance on the Rise
Moreover, analysts share a similar bullish expectation for altcoins as well. As we can see from the post above, this analyst draws light to how altcoins seem extremely down in December 2023 and this mirrors the same low expectation for altcoins in December 2020. However, last season altcoins exploded in the following months and analysts expect the same pattern to play out this cycle as well.
disclaimer read moreCrypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
