Currently, BitCoin dominance continues to decline against currencies such as Ethereum, Cardano or Ripple, and today it stands at 45%.
The term altseason was coined between 2017 and 2018 when the panic of bitcoin collapsing led to the use of other currencies as a refuge. At the beginning of 2017, the dominance of bitcoin exceeded 90% and during the altseason it lost more than half of the market dominance with values below 40%.
Today a similar move would leave bitcoin with a dominance around 25%, which would trigger many currencies that could double or even more their current values.
These days we are seeing strong gains in almost all major currencies. Are we entering an Alt season?
Currently everything seems to indicate that this is the case, the fear that BTC will lose 50,000 makes investors seek refuge in other currencies. Day after day more capital comes out of BTC and that capital is entering other currencies.
Is it time to invest in other currencies? Everything seems to indicate that the answer is...Yes!!
What do you think?
