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) covers all things crypto — from major projects, which are fighting tooth and nail to gain the upper hand in the burgeoning industry, to the latest regulatory trends around the world. When he happens to take a break from crypto, Alex delves into cognitive linguistics (metaphors can be fun too!).

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