Bitcoin dominance falling, time to bag in some alts? altcoin party?

[Stedsm]

There was an upward channel pattern which was being followed by the BTC dominance since past 2 years and it recently broke down below 65% and is currently down under EMA 100. Seeing the charts very carefully, I believe that some alts are definitely going to rally super hard and BTC dominance will fall down more in order to let the party continue.

[Zeehaxan]

There was an upward channel pattern which was being followed by the BTC dominance since past 2 years and it recently broke down below 65% and is currently down under EMA 100. Seeing the charts very carefully, I believe that some alts are definitely going to rally super hard and BTC dominance will fall down more in order to let the party continue.

We are already seeing selective alts doing really well. Regarding btc dominance to go down i do not agree with this opinion i think it can go a bit more down but it will stabilize and then again start to increase with next bull season amd most of the community is super bullish for btc as a part of historic pattern.

[ryzaadit]

Yeah maybe.

With the stable condition bitcoin price around 9000-9300 with almost 2-4 weeks, make the altcoin trying to gain from this stable condition. I have a confidant this party will start soon, load my bag to some coin who have a good potential rise and the price still not going up.

Some of altcoin already gain maybe 2-5x times with this stable condition.

[Pecunia non olet]

The drop in dominance is not interesting. In the altseason the dominance of Bitcoin dropped below 30% level, we are in the phase when everyone is thinking about the real use case of altcoins and they are afraid that Bitcoin is the only thing what they need in a personal wallet.   

[bttmember]

It is always good to accumulate more and more alts especially when the market is ranging for so long the only due diligence you require is that you only have to pick quality coins and check previous highs of each coin and see the largest difference now with reference to previous highs and buy such coins to benefit in next bullish cycle.

[coupable]

According to numbers, yes, the Bitcoin dominance is falling. But i don't really think caused by people start bagging other alts. From what i can guess, the stability in btc price makes people preparing themselves to the next price drop, so many of them moved to stable coins [USDT,USDC,...] just in case the price goes below the 9000$.

It is always good to accumulate more and more alts especially when the market is ranging for so long the only due diligence you require is that you only have to pick quality coins and check previous highs of each coin and see the largest difference now with reference to previous highs and buy such coins to benefit in next bullish cycle.

This is what a regular trader would think about. But, it's more risky then holding bitcoin.
For others (who are not traders), what is good in accumulating alts? Bitcoin is always useful even for those who hold a diversified portofolio.

[Japinat]

Would this signal for the altcoins party yet? No, if bitcoin is stable, altcoins would be stable at their respective prices, so I don't really expect something big will happen if that's the behavior of the market, I'd rather want to see bitcoin moves and altcoins will follow, regardless of the dominance rate.

[tippytoes]

It is always good to accumulate more and more alts especially when the market is ranging for so long the only due diligence you require is that you only have to pick quality coins and check previous highs of each coin and see the largest difference now with reference to previous highs and buy such coins to benefit in next bullish cycle.

Only very few alts will qualify to be good investments. Most of them are crap and hard to increase its value in the market. I guess, I will stick to bitcoin but for alts, maybe set a lil bit but only to selected top alts. I still have hesitations when it comes to alts. Only few of them have the chance to grow. So yeah, as investor, you should really do your homework before shelling out money to these alts.

[livingfree]

Possible.

BTC dominance is dropping and if that happens, we can only think of one thing. The money will flow to altcoins and that seems to be happening, Chain Link pushed to be at the all-time high and some alts are also in good green days.

[TheUltraElite]

With the bitcoin price being stable around 9k USD it is possible that people are moving to alts because of lack of volatility in bitcoin price. 

Now the hypocrisy here is that because some nocoiners say that the volatility is the reason why they dont like bitcoin and then the same lack of volatility makes them move away from bitcoin too. I guess they dont want to put money in any cryptocurrency at all.

But the charts dont always point to what the possibilities are. It is a more of a 50-50 chance. Would not suggest buying altcoins at all unless you are very confident that they are going to go up in future, most of the time it is an inorganic pump.

[havoc928]

With the bitcoin price being stable around 9k USD it is possible that people are moving to alts because of lack of volatility in bitcoin price. 

Now the hypocrisy here is that because some nocoiners say that the volatility is the reason why they dont like bitcoin and then the same lack of volatility makes them move away from bitcoin too. I guess they dont want to put money in any cryptocurrency at all.

But the charts dont always point to what the possibilities are. It is a more of a 50-50 chance. Would not suggest buying altcoins at all unless you are very confident that they are going to go up in future, most of the time it is an inorganic pump.

LOL! That's so true. Some people say like they don't like investing in the cryptocurrency market because of its volatility. However, volatility is the reason why we can earn money out of the market. How could you earn profits if the price is stable? Back to the topic, I think we should wait for a little bit of time to buy altcoins. The market is not fully recovered yet. Right now I prefer to invest in BTC and ETH to see what's happening next. I believe there will be an altcoin bullish season later this year.

[Hippocrypto]

With the bitcoin price being stable around 9k USD it is possible that people are moving to alts because of lack of volatility in bitcoin price.

Now the hypocrisy here is that because some nocoiners say that the volatility is the reason why they dont like bitcoin and then the same lack of volatility makes them move away from bitcoin too. I guess they dont want to put money in any cryptocurrency at all.

But the charts dont always point to what the possibilities are. It is a more of a 50-50 chance. Would not suggest buying altcoins at all unless you are very confident that they are going to go up in future, most of the time it is an inorganic pump.

Talking about 50-50 chance mate, that's always a strong conviction to choose for because some altcoins has no volume for the main time. Only bitcoin has an active trading volume that's been consistent few months ago despite of the pandemic. Other new potential uprising coins and tokens still tried to compete, but not capable to come up with a better progress due to several factors.

[studio1one]

There was an upward channel pattern which was being followed by the BTC dominance since past 2 years and it recently broke down below 65% and is currently down under EMA 100. Seeing the charts very carefully, I believe that some alts are definitely going to rally super hard and BTC dominance will fall down more in order to let the party continue.

Once the large-cap projects start making their move then I believe BTC's dominance will fall even further which could be even more bullish for altcoins. But if BTC moves above 10k then it could be a totally different scenario IMO.

[mindrust]

Good idea but most alts have zero liquidity. You better don't buy the obvious scams and stick with the safer ones like xmr, ltc, eth, doge...

[TheUltraElite]

I think we should wait for a little bit of time to buy altcoins. The market is not fully recovered yet.

Market was recovering and staying at 6k pre-pandemic but now it is good that even after the pandemic the price touched 9k. Still the altcoins are recovering with time.

Right now I prefer to invest in BTC and ETH to see what's happening next. I believe there will be an altcoin bullish season later this year.

It might be easy money. The altcoin market has been continuously bearish or stagnant for years since the last big pump of 2017. A bullish trend this year is unlikely, but I hope for the best for any altcoin holders out there.

Talking about 50-50 chance mate, that's always a strong conviction to choose for because some altcoins has no volume for the main time.

They lack a lot of things not just volume. A long term profitable projects needs good development, intrinsic market making abilities and a process to spend their tokens so as to generate a demand from the market which drives the price upwards.

Only bitcoin has an active trading volume that's been consistent few months ago despite of the pandemic. Other new potential uprising coins and tokens still tried to compete, but not capable to come up with a better progress due to several factors.

I am not optimistic about the newcomer altcoins post-2017 at all. They have very little chance of surviving the next few years unless it is something groundbreaking and that is almost zero in the crypto economy.

Bigger development occur more in the mainstream sectors, sadly for now.

[Bitbtc8]

Bitcoin dominance falling when Bitcoin is still at 9000+ ? How is this a good move? No it's not, even if this will have effect on altcoins it won't be big, dominance should be falling right after Bitcoin hits a new all time high and then altcoins will benefits a lot.

[dre1982]

Possible.

BTC dominance is dropping and if that happens, we can only think of one thing. The money will flow to altcoins and that seems to be happening, Chain Link pushed to be at the all-time high and some alts are also in good green days.

Well I think it's just temporary that the dominance is dropping. When Bitcoin is going up again, you will see that a lot of people trading there altcoins back for bitcoin.

Nowadays there are too many altcoins and with a lot of scams between them. I learned my lesson and won't invest in any new coin anymore.

[maydna]

Good idea but most alts have zero liquidity. You better don't buy the obvious scams and stick with the safer ones like xmr, ltc, eth, doge...

Selecting the altcoin you mention will be better than to choose the suspicious coins or the new coins. I am not saying that the new coins will be a scam, but I only think that the new coins will have the time to get a pump and dump before the coin settles to the correct price so that we can analyze the coin. If we can stick to the old coins that have history, and we can see the movement of that coin every day, that can help us analyze the price of the coin, and perhaps, we will see a good time to buy and sell the coins.

[Maxstl007]

The present fall in dominance won't make a difference on altcoins, we need better bullrun on Bitcoin first before hoping for altcoin party, it's never going to work that way, that dominance will rise back up before you know it and altcoins won't benefits much

[mersal]

There was an upward channel pattern which was being followed by the BTC dominance since past 2 years and it recently broke down below 65% and is currently down under EMA 100. Seeing the charts very carefully, I believe that some alts are definitely going to rally super hard and BTC dominance will fall down more in order to let the party continue.

In 2017 when the dominance fell the whole crypto market is being at bull trend so the history is going to be repeated gain?

Centralized coins are also a reason for this down fall which isn't doing anything beneficial for the crypto market, all they are doing is just printing money from nowhere and trying to create inflation in the decentralized system.