{"id":468975,"date":"2021-08-10T23:00:14","date_gmt":"2021-08-10T23:00:14","guid":{"rendered":"https:\/\/ktsl888.com\/?p=468975"},"modified":"2024-06-11T13:57:37","modified_gmt":"2024-06-11T13:57:37","slug":"altcoin-season-could-be-on-horizon","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/altcoin-season-could-be-on-horizon\/","title":{"rendered":"Why A Shocking Altcoin Season Could Be On The Horizon"},"content":{"rendered":"
Altcoin season is a phrase that is quite popular throughout the crypto market. The phrase refers to the run-up in the prices of altcoins after the price of bitcoin slows down. The altcoins usually see an uptick in their individual and collective market dominance, taking even more market share from the top cryptocurrency, bitcoin.<\/p>\n
As the coins become more valuable, their prices soar following the increased market share. An altcoin season usually sees most of the altcoins in the market rallying at the same time. With Ethereum\u2019s price mostly leading the charge once the prices start surging.<\/p>\n
Related Reading |\u00a0Here\u2019s What Happens To All Of The Crypto Assets The IRS Seizes<\/a><\/strong><\/em><\/p>\n At this point, altcoin prices are no longer following the price of bitcoin as they usually do in the market. Altcoins break away from bitcoin for a period of time and their prices move independently of the cop coin. Now, indications are pointing that an altcoin season is on the horizon. Movement on the charts point to the possibility of this following the current bull rally.<\/p>\n Bitcoin has held a majority share of the market dominance for the longest time. Over the years, this market dominance has seen a declining trend as coins like Ethereum gained more popularity amongst investors in the market. From an over 95% dominance, BTC dominance has gone down over the years to now sit at less than 50%.<\/p>\n <\/p>\n Ethereum continues to steal more market share from the pioneer cryptocurrency following each bull market.\u00a0 <\/span>Steadily trailing behind bitcoin. Altcoins now collectively have over 50% of market dominance, which puts them in a significant position to start growing their prices on their own terms. Instead of being eternally connected to the price movements of BTC.<\/p>\n Ethereum alone now has over 20% of market dominance, a little less than half of what bitcoin has. Bitcoin market dominance has shown declining trends presently, and this puts alts in a position to see an uptick in their market prices, regardless of what direction the price of bitcoin takes.<\/p>\nBitcoin Market Dominance Continues To Decline<\/h2>\n
Bitcoin market dominance continues to decline | Source: Market Cap BTC Dominance from TradingView.com<\/a><\/pre>\n