Altcoins rises while Bitcoin’s dominance retains the analyst star-news.press/wp

The encryption analyst indicates that Altcoins may have a lot of upward trend, as many of them already rise without pulling a lot of market share from Bitcoin.

“BTC’s dominance is not sneezing and captured by” Matthew Hayland’s encryption analyst He said In the post on Friday.

Bitcoin reaches new levels in three consecutive days

Tradingvief He appears Bitcoin (BTC) is 64.46 % at the time of publication, a decrease of only 1.53 % during the past week, while Altcoins witnessed a significant increase in prices in Bitcoin reaching new levels at all on Wednesday and Thursday, and up to $ 118,760 on Friday.

“What do you think happens if it decreases from 65 to 45.” Hayland said.

Analysts used bitcoin traditionally to measure the timing of the Altcoin season, with a decline that it is a sign that Altcoins is gaining market share.

However, although the BTC dominance has remained relatively fixed, the recent increase of Altcoin can indicate that the new capital flows to the wider market.

Memecore (M) tops the best 100 Rabin Checks over the past seven days with a rise of 1,263 %, followed by MG (MG), an increase of 75.01 %, and Stellar (XLM), an increase of 67.43 %, According to To CoinmarketCap data.

ETHER (ETH), the second largest encryption depending on the maximum market, is 17.68 % over the past seven days, and it often uses other indicators to determine when the focus turns from bitcoin to the broader market.

Trader says that this will be the “Altcoin Final” season.

The ETH/BTC, which measures the relative strength of the ether against Bitcoin, increases by 8.39 % over the past seven days.

However, the altcoin season in CoinMarketcap index It indicates that the market still prefers Bitcoin in a large way, as the index read the “Bitcoin season” 29 out of 100.

In the publication of x on Friday, the founder of MN Trading Capital Michael Van De Poppe He said“I assume that we are about to witness the final and largest final bull ever altcoins“

Related to: Does the encryption market enter the new Supercycle? Here are 5 ways to get to know

Meanwhile, Santimit recently said that its standards indicate that the altcoin season had started. “The data confirms that, at the present time, it has,” said Santem.

They added: “As long as Bitcoin can maintain its position above the level of decisive psychological support, which is about 110 thousand dollars, it is possible that merchants will feel comfortable redistributing profits in Altcoins.”

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