Bitcoin dominance really plays an important role in bringing the altcoin season.
You all know that Bitcoin dominance is the market cap of BTC which defines the investment in the Bitcoin.
When more people comes into Bitcoin and start investing you will see that Bitcoin dominance also increases and when money flows from Bitcoin to other altcoins, Bitcoin dominance decreases.
From the last 10 to 15 days, Bitcoin dominance has decreased by 10% and now standing at 55.33%.
That is why we did see a huge price rise in different altcoins.
Now if I talk about dominance, it is standing at its support level and if in case it breakdowns this level, then surely the next dominance level will be near at 54%.
As we see that Bitcoin dominance is now holding a position at this level and is trying to go upside again because there we see an investment coming in Bitcoin which will surely stop the alt-season to come.
We need Bitcoin dominance to go below 50 which I draw a chart pattern as well.
If Bitcoin goes below the 50 level, we will see a huge altcoin season.
Therefore, if you want to invest in altcoin, you must have a look over to the Bitcoin dominance in order to invest in a perfect time.
THANK YOU!
