Bitcoin: Its dominance slows the rise of altcoins!

Altcoins, Bitcoin’s eternal companions, sadly watch as their queen continues to reign supreme over the crypto kingdom. While the long-awaited “altcoin season” seems to be in short supply, all eyes remain on the leader. Historically, Bitcoin’s rises have preceded altcoin surges, but this time, the scenario could well play out differently.

Bitcoin: Uncontested Domination Slows Down Altcoins

For months, Bitcoin has maintained overwhelming domination in the cryptocurrency market, preventing altcoins from experiencing their traditional surge.

According to data from CoinMarketCap, more than 90 days after the 2024 HalvingBitcoin's market share remains high at 53.9%. Crypto enthusiasts are wondering if an altcoin season is still possible before the end of the year.

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“CryptoBusy”, famous crypto analyst on twitterunderlines :

If we follow what happened previously, the altcoin season might not happen before Q4 2024 or early 2025.. »

Previous cycles have shown thatA significant drop in Bitcoin dominance is often followed by a rally in altcoins, but patience is required this year.

Crypto Market Dynamics Awaiting Reversal

Summers in the crypto world are often quiet, giving way to anticipation and speculation. This year is no exception.

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Analysts like Benjamin Cowen, CEO of IntoTheCryptoverse, insist that the market capitalization of cryptocurrencies is currently undervalued.

He notes that ” the potential upside could occur at the end of the halving year or in the first half of the post-halving year”.

Recent history shows that 243 days after the 2016 halving, and 245 days after the 2020 halving, Bitcoin dominance has plummetedpaving the way for a mega rally in altcoins.

However, the massive sale of BTC by the German government and the distribution of BTC by Mt. Gox could disrupt this cycle.

While we wait for Bitcoin’s dominance to finally give way, crypto enthusiasts remain on the lookout, dreaming of a spectacular altcoin surge or altseason. With a little patience and a healthy dose of optimism, the next altcoin season could well be worth the wait.

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