{"id":548355,"date":"2023-08-22T11:15:18","date_gmt":"2023-08-22T11:15:18","guid":{"rendered":"https:\/\/ktsl888.com\/?p=548355"},"modified":"2023-08-22T10:24:52","modified_gmt":"2023-08-22T10:24:52","slug":"altcoin-season-bitcoin-dominance-holds-key-support","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/altcoin-season-bitcoin-dominance-holds-key-support\/","title":{"rendered":"Altcoin Season In Limbo As Bitcoin Dominance Bounces Off Key Support"},"content":{"rendered":"

Market observers are closely eyeing the tussle between Bitcoin and its altcoin counterparts. Bitcoin’s dominance, a critical indicator of its market influence relative to the entire crypto market, has reached a pivotal crossroads. This juncture holds the potential to determine whether this year’s trend of Bitcoin outperforming altcoins will persist or if the heralded “altcoin season” is on the horizon.<\/p>\n

Bitcoin Dominance (BTC.D) stands as a percentage value that calculates Bitcoin’s market capitalization against the entire global crypto market capitalization. This metric has garnered substantial attention due to its role in reflecting shifts in market sentiment.<\/p>\n

Since May 2021, Bitcoin dominance has oscillated within a range of 39% to 49%. However, early June this year marked a breakout from this range, with BTC.D briefly surging above 52% before retracing toward the 49% level in recent weeks.\u00a0A successful retest of this level could trigger new bullish momentum for BTC against altcoins. On the flipside, a drop below this level could trigger a longer-term drop towards 39%, the range-low which would trigger the start of a new altcoin season.<\/p>\n

\"Bitcoin
Bitcoin dominance retests key support, 1-week chart | Source BTC.D on TradingView.com<\/a><\/figcaption><\/figure>\n

This Is What Bitcoin And Crypto Experts Predict<\/h2>\n

Daan de Rover, a prominent Crypto YouTuber, emphasizes<\/a> the importance of understanding the broader market cycle before predicting an “altcoin season.” He argues that the current phase, being the pre-halving stage<\/a> of the Bitcoin cycle, might not be the optimal time for altcoin investments.<\/p>\n

Related Reading: Bitcoin On-Chain Data Suggests Price Is Top Heavy, What It Means<\/a><\/div>\n

De Rover highlights that a minor retracement in Bitcoin dominance shouldn’t overshadow the overarching upward trajectory, advising that the right time for significant altcoin investments usually occurs after Bitcoin surpasses its all-time high. “We are currently in the pre-halving stage of the cycle, which is generally not the best time to buy altcoins. Bitcoin dominance might drop by 3%, but this is likely just a minor retracement in a larger upward move.” emphasized the crypto YouTuber.<\/p>\n

Benjamin Cowen, the founder of ITC Crypto, sheds light on the shifting sentiment, stating<\/a>, “In June, many said BTC dominance would never break 49% and that alt season was about to begin. Now those same people are dunking on BTC dominance because it had a pullback to 49%. The altcoin casino will remain open until all the money is gone,” indicating that the altcoin market’s potential is far from exhausted.<\/p>\n

Micha\u00ebl van de Poppe, the CEO and founder of MN Trading, delves<\/a> into historical patterns to discern the optimal time for investing in altcoins. He suggests that the best opportunity emerges around 8-10 months before a Bitcoin halving, during a period of low market confidence. Van de Poppe indicates that the performance of altcoins often hinges on Bitcoin pairs, asserting that they show interest in the markets and initiate rallies when least anticipated.<\/p>\n

Related Reading: Bitcoin Reaches Most \u201cOversold\u201d Record Since 2020: What This Means<\/a><\/div>\n

Highlighting the cyclical nature of the market, van de Poppe references past instances when altcoin strength followed historical patterns despite market variables. He references examples like Ethereum’s cycle low in September ’19 and October ’15, occurring precisely 252 days before Bitcoin halvings, which heralded altcoin bull runs.<\/p>\n

The next two or three weeks will probably decide who is right and whether Bitcoin will continue its dominance or if altcoins will make their move and become the favored asset. Investors should therefore watch BTC.D closely.<\/p>\n

Featured image from iStock, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Market observers are closely eyeing the tussle between Bitcoin and its altcoin counterparts. Bitcoin’s dominance, a critical indicator of its market influence relative to the entire crypto market, has reached a pivotal crossroads. This juncture holds the potential to determine whether this year’s trend of Bitcoin outperforming altcoins will persist or if the heralded “altcoin season” is on the horizon. Bitcoin Dominance (BTC.D) stands as a percentage value that calculates Bitcoin’s market capitalization against the entire global crypto market capitalization. This metric has garnered substantial attention due to its role in reflecting shifts in market sentiment. Since May 2021, Bitcoin dominance has oscillated within a range of 39% to 49%. However, early June this year marked a breakout from this range, with BTC.D briefly surging above 52% before retracing toward the 49% level in recent weeks.\u00a0A successful retest of this level could trigger new bullish momentum for BTC against altcoins. On the flipside, a drop below this level could trigger a longer-term drop towards 39%, the range-low which would trigger the start of a new altcoin season. This Is What Bitcoin And Crypto Experts Predict Daan de Rover, a prominent Crypto YouTuber, emphasizes the importance of understanding the broader market cycle before predicting an “altcoin season.” He argues that the current phase, being the pre-halving stage of the Bitcoin cycle, might not be the optimal time for altcoin investments. Related Reading: Bitcoin On-Chain Data Suggests Price Is Top Heavy, What It Means De Rover highlights that a minor retracement in Bitcoin dominance shouldn’t overshadow the overarching upward trajectory, advising that the right time for significant altcoin investments usually occurs after Bitcoin surpasses its all-time high. “We are currently in the pre-halving stage of the cycle, which is generally not the best time to buy altcoins. Bitcoin dominance might drop by 3%, but this is likely just a minor retracement in a larger upward move.” emphasized the crypto YouTuber. Benjamin Cowen, the founder of ITC Crypto, sheds light on the shifting sentiment, stating, “In June, many said BTC dominance would never break 49% and that alt season was about to begin. Now those same people are dunking on BTC dominance because it had a pullback to 49%. The altcoin casino will remain open until all the money is gone,” indicating that the altcoin market’s potential is far from exhausted. Micha\u00ebl van de Poppe, the CEO and founder of MN Trading, delves into historical patterns to discern the optimal time for investing in altcoins. He suggests that the best opportunity emerges around 8-10 months before a Bitcoin halving, during a period of low market confidence. Van de Poppe indicates that the performance of altcoins often hinges on Bitcoin pairs, asserting that they show interest in the markets and initiate rallies when least anticipated. Related Reading: Bitcoin Reaches Most \u201cOversold\u201d Record Since 2020: What This Means Highlighting the cyclical nature of the market, van de Poppe references past instances when altcoin strength followed historical patterns despite market variables. He references examples like Ethereum’s cycle low in September ’19 and October ’15, occurring precisely 252 days before Bitcoin halvings, which heralded altcoin bull runs. The next two or three weeks will probably decide who is right and whether Bitcoin will continue its dominance or if altcoins will make their move and become the favored asset. Investors should therefore watch BTC.D closely. Featured image from iStock, chart from TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":548358,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[25731,142,428,13510,1119,75754,6664],"class_list":["post-548355","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoin-season","tag-altcoins","tag-bitcoin","tag-bitcoin-dominance","tag-btc","tag-btc-d","tag-crypto"],"acf":[],"yoast_head":"\nAltcoin Season In Limbo As Bitcoin Dominance Holds Key Support<\/title>\n<meta name=\"description\" content=\"Bitcoin dominance, a critical indicator of its market influence relative to the entire crypto market, has reached a pivotal crossroads.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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Through his extensive work with ktsl888.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field. His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone. With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake\u2019s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage. Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control. For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. You can engage with his latest takes on Twitter: @realJakeSimmons.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/realJakeSimmons"],"url":"https:\/\/ktsl888.com\/author\/marcusmisiak\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Altcoin Season In Limbo As Bitcoin Dominance Bounces Off Key Support","url":"http:\/\/ktsl888.com\/news\/altcoin-season-bitcoin-dominance-holds-key-support\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/altcoin-season-bitcoin-dominance-holds-key-support\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/08\/iStock-1296910866-1.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/08\/iStock-1296910866-1.jpg?fit=1305%2C804"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Jake Simmons"}],"creator":["Jake Simmons"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoin season","altcoins","bitcoin","bitcoin dominance","btc","btc.d","crypto"],"dateCreated":"2023-08-22T11:15:18Z","datePublished":"2023-08-22T11:15:18Z","dateModified":"2023-08-22T11:15:18Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Altcoin Season In Limbo As Bitcoin Dominance Bounces Off Key Support\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/altcoin-season-bitcoin-dominance-holds-key-support\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/altcoin-season-bitcoin-dominance-holds-key-support\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/08\\\/iStock-1296910866-1.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/08\\\/iStock-1296910866-1.jpg?fit=1305%2C804\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Jake Simmons\"}],\"creator\":[\"Jake Simmons\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoin season\",\"altcoins\",\"bitcoin\",\"bitcoin dominance\",\"btc\",\"btc.d\",\"crypto\"],\"dateCreated\":\"2023-08-22T11:15:18Z\",\"datePublished\":\"2023-08-22T11:15:18Z\",\"dateModified\":\"2023-08-22T11:15:18Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/08\/iStock-1296910866-1.jpg?fit=1305%2C804","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/548355"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/571"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=548355"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/548355\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/548358"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=548355"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=548355"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=548355"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}