BTC dominance is going to below 55%, What do you think about bull market?

[sujonali1819]

Bitcoin dominance was holding above 60% for the long time. And recently we are seeing it is going below 60% and according to coinmarketcap todays update it is 55.1%. And we are seeing most of the altcoins are pumping hard recently. so what do you think about this altcoin bull season ? It's already started or still need some more time to start ?

[mk4]

Not even surprised in the slightest. Heck, in the 2017 bull market, bitcoin dominance went down sub 40% if I remember correctly. When cryptocurrencies are pumping, it's probably just the case that people get more greedy, hence allocate some of their money on risky altcoins.

And not to mention that the bitcoin dominance metric is quite inaccurate in the first place; but I guess almost everyone here knows that already.

[Luzin]

Altseason It looks like it will return, some coins have indeed experienced a very significant increase. If the chart tends to go down, what I understand is that bitcoin traders focus on altcoins. The opposite is also true. Maybe right now Bitcoin is in Deman's position, if later this will break then the price of bitcoin will tend to be stable, and it is likely that altcoins will rise.

Even if some coins have discovered this new wave of ATH it's only partly that it hasn't all happened. Even though if seen from the USDT pair some have found new prices, using the BTC pair is still very far away. I hope it will really come down and it will be an exciting season for us altcoin holders.

[trigger1975]

Bitcoin dominance was holding above 60% for the long time. And recently we are seeing it is going below 60% and according to coinmarketcap todays update it is 55.1%. And we are seeing most of the altcoins are pumping hard recently. so what do you think about this altcoin bull season ? It's already started or still need some more time to start ?

I assume this as a sign that the greed in the market is increasing.  Lot of people jumping on the train recognizing, they cannot get the big gain from BTC right now so they are using Alts to get their piece of the bull market cake.  But I assume this as an early sign of a coming major correction.

[hd49728]

Heck, in the 2017 bull market, bitcoin dominance went down sub 40% if I remember correctly. When cryptocurrencies are pumping, it's probably just the case that people get more greedy, hence allocate some of their money on risky altcoins.

And not to mention that the bitcoin dominance metric is quite inaccurate in the first place; but I guess almost everyone here knows that already.

I lost so much bitcoin to altcoins and I deeply understood your implication. Altcoins are not safe to invest for long time. In bull market, they are most favourite cryptocurrencies. To pump altcoins, capital is less than bitcoin. Pump and dump signals are for altcoins, not bitcoin.

Altseason It looks like it will return, some coins have indeed experienced a very significant increase.

People are looking for cryptocurrency that can help them have x increases for their capital. The increase of 20%, 50% now can be a joke for them. Altcoins are risky assets that can give them quick rich and quick poor but they like altcoins.

[Findingnemo]

When dominance decreases the bull market remains longer, so we shouldn't give more attention to the dominance which isn't having any useful metric but the sad part is people are liquidation their money into shitcoins who are in the risk of losing capitals at any time.

[LUCKMCFLY]

The domain may fall, but you can't panic, I don't think a season of altcoins will rise either, I still don't see it, if bitcoin has this type of behavior it is because it is gaining momentum, perhaps in a short time we will see the price rise suddenly .

I know there are many people who are looking forward to the altcoin season, but for now I see that bitcoin while it is falling in dominance the altcoins will not emerge, when bitcoin is in an uptrend the altcoins if they breathe and copy the uptrend, it is because there is liquidity in the market. Personally, I am more Pro-Bitcoin than altcoins, I am also clear about the potential that altcoins have so that from one moment to another they give you good benefits, but you have to see the altcoins as the Stock Market actions, knowing how to choose the one that is the most future have and therefore gives you good benefits, the difference is that in the altcoins the movements are violent, they are in a short time, while the stock market the important movements are in years. As Jesse Livermore said in one of his books, intuition can make you win when everything is against you.

[Marvelman]

We can see that the crypto landscape is shifting. People are being compelled to purchase altcoins right now because they are afraid of being left out of the boom. Since the price of many altcoins has been rising at a very quick pace, speculation is driving up the value. But while this helps the altcoin market, many people may become victims of this hype.

[Luzin]

]
People are looking for cryptocurrency that can help them have x increases for their capital. The increase of 20%, 50% now can be a joke for them. Altcoins are risky assets that can give them quick rich and quick poor but they like altcoins.

Yes, you are right, but some of my trader friends have a philosophy of buying at a low price. They are very patient with they have. They are even able to hold back when the price goes up and down again. It looks like they are real holders. But they had a story that they still select the coins that he holds, he chooses coins that have real projects, and the developer continues to actively develop the project.

He firmly believes in the period that will repeat itself, going down deep and coming back at a high price. But he is also selective about he chooses. Soo Congratulation for holder. 

[tabas]

so what do you think about this altcoin bull season ? It's already started or still need some more time to start ?

It has already started. We can see a lot of them from ETH to BNB, to Litecoin and other altcoins that are pumping. Even XRP, it has got back to $1 for a while and then goes back again to $0.9 but that's remarkable because they are dealing with a lawsuit that made its price to plunge.

[posi]

It understandable for Bitcoin dominance to go below the previous holding (60%) because
1) Bitcoin usually lead the bullish market and the altcoin will follow.
2) There could some switch decision from the major investors which are the institution.
3) Alot of altcoin are created and listed on capital market everyday (especially now that NFTs is the new cruise in town).

[GreatArkansas]

Bitcoin is still holding or in sideways, which we already experienced in recent months in previous years, the more Bitcoin do sideways altcoins are kicking.
The Bitcoin dominance is extremely different now in terms of altcoin's price action compared to the last 2017-2018 bull market.
I believe that returns or pumps of altcoins this time is will not same as huge before.

[hd49728]

Yes, you are right, but some of my trader friends have a philosophy of buying at a low price. They are very patient with they have. They are even able to hold back when the price goes up and down again. It looks like they are real holders. But they had a story that they still select the coins that he holds, he chooses coins that have real projects, and the developer continues to actively develop the project.

I hold coins after I buy them at good price. It will be a lie if I say I always buy coins at bottoms but if I think it is a good price and I already accumulate it, I will hold for 2 or 3 target prices.

I will take profit at my Take profit 1, 2 and 3. After the price at Take profit 3, highest in my plan, I will exit and move to other coins. I don't hold one coin forever as a retail investor, I have to use my capital as many times as I can.

[mk4]

I lost so much bitcoin to altcoins and I deeply understood your implication. Altcoins are not safe to invest for long time. In bull market, they are most favourite cryptocurrencies. To pump altcoins, capital is less than bitcoin. Pump and dump signals are for altcoins, not bitcoin.

Pretty much sums up crypto investments for most people. While I think that some altcoins are going to survive the long-term(and are going to be good investments), it's going to be pretty tough to pick the right ones. Unless you're doing cryptocurrency research full-time, 80-95% bitcoin is still the best move.

[bitterguy28]

Bitcoin dominance was holding above 60% for the long time. And recently we are seeing it is going below 60% and according to coinmarketcap todays update it is 55.1%. And we are seeing most of the altcoins are pumping hard recently. so what do you think about this altcoin bull season ? It's already started or still need some more time to start ?

We are still In Bullish market though the Dominance of Bitcoin is lowering as Altcoin is increasing their market capitalization .

Some says this is altcoin season but i don't but this because there's just some elements that tries to divert the scenario for a while , then will return to Bitcoin investing again.

Bitcoin Dominance is now fell down to 54% and still getting down.