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Bitcoin Losing Its Dominance Amidst New Altcoin Season

  • Alex Morris
    📰 News

    BTC, the biggest crypto in the world, might be experiencing a minor bullish momentum with 5% spike in last 24 hours, but the coin’s dominance is in free fall right now


Bitcoin Losing Its Dominance Amidst New Altcoin Season
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Bitcoin, the biggest cryptocurrency in the world, might be experiencing a minor bullish momentum with a five percent spike in the last 24 hours, but the coin’s dominance is in free fall right now.

After making headlines about hitting its year-high market share just a couple of weeks ago, Bitcoin dominance is currently sitting at just above 50 percent, so there is a good chance that BTC will plunge below its physiologically important point in the nearest future.

It comes as a no surprise, judging by the fact that major altcoins are currently experiencing a resurgence with XRP ruling the roost during what seems to be like the new altcoin season.   
 


Cover image via u.today
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