Bitcoin Losing Its Dominance Amidst New Altcoin Season

  • Alex Dovbnya
    📰 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

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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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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