BTC domination meets resistance so will we have another altcoin season

[tbct_mt2]

The Bitcoin domination is about 47% and probably it will try to climb to 49%. From 47% to 49%, I believe we will see another altcoin season. In reality it seems a new altcoin season is going but it won't stop before the end of June.

I don't believe the bear market already ends so it won't be smart to pick altcoins and hold them too long. In this period, it is good to enter the market, get quick profit then run away.

Bear market will be confirmed that it already ends when we see miner capitulation that has yet been seen.

What do you think?

Bitcoin domination chart: https://www.tradingview.com/chart/?symbol=BITSTAMP%3ABTCUSD

[Dave1]

I thought that bitcoin and altcoin market is correlated.

if we go on this premise, then if bitcoin goes down, majority of the altcoins will also decrease? And as you have said, we are still in the bear market so crypto is going to bled.

And as far as bitcoin's dominance, not sure if this is also a good indicator, just saying.

[Wiwo]

The cryptocurrency market is a chain and whatever happens in the Bitcoin market will have its percentage reflection on the altcoin market, that is how the stock market works, so as it is there may be an altcoin and Bitcoin season soon but when that will be is only determined by the market situations in the coming days. The market has been in an unstable state for the past few weeks and at that many analysts are afraid of making any predictions as the market move in its direction.

[Kunnu]

If there is something positive indications in the chart of Bitcoin so on this basis we may expect altcoins season in near future but we must remember that estimates might go wrong, investing in this bear market without proper risk management can be unhealthy decision because we have no idea what kind of momentum the market will take, currently the time is to have patience and keep holding whatever you have hopefully there will be something positive is going to happen.

[JakobFugger]

Bitcoin is been for so long testing this 30k resistance. Many are in doubt whether it is a temporary bottom or a temporary top. They're all waiting for Bitcoin's move to know which direction altcoins will go. There is a lot of institutional money for random movements to pull the market.

It is quite likely that if the move is down, Bitcoin dominance will reach 60%. That is, altcoins would fall much, much more. Now, if the move is bullish, this domain would go down a lot. Since altcoins are itching to rush to ATH again.

[masterrex]

Wow, that was good and hopefully, it will happen and turn into a reality so that we can recover some of our losses and our portfolios will be alive again.
Anyway, my prediction about the so-called altcoins season is slightly different because it might occur in the third quarter of this year or in a period of July-Aug-Sept. It's just pure speculation but who knows, if it really happens? so just wait and see.    

[el kaka22]

This isn't always the case, it needs to be a bull season at the same time as well. Like when bitcoin reaches 70k, and then it fails to go up, and domination sees a resistance, that means we are in a bull season because it reached so high but can't go any higher due to how much money is required to make it go even further up, so people instead move to other coins and use them to make it go that much higher.

I personally would prefer it this way, makes a lot more sense. If you are insisting on this, then we are going to be quite upset about the situation because we are not in a bull run, and expecting alts to have a "season" right now would be a bad expectation.

[Natalim]

The Bitcoin domination is about 47% and probably it will try to climb to 49%. From 47% to 49%, I believe we will see another altcoin season. In reality it seems a new altcoin season is going but it won't stop before the end of June.

Well, it was an indication that we are pushing back high slowly. Although a 2% incline is just a small change, well, at least we are seeing the positivity of the market and a good sign for the future. However, it was too early to think about altcoins surge. Not this time, maybe when we see Bitcoin reach back to $35k, I believe altcoins have already been adapting to the new trend during that time.

But I guess, we just forget about Bullrun now, as more of the sideways movements are expected to see rather than being in the uptrend motion.