As Bitcoin (BTC) continues its unstoppable rise, altcoins are still waiting for the right moment to act. In the cryptocurrency community, especially altcoin investors have been eagerly waiting for the altcoin season to begin in the last few months.
While analysts have different opinions on the subject, a trader and analyst shared a chart about Bitcoin dominance, hinting that good times will come for altcoin investors.
According to the 3-day chart shared by the analyst, Bitcoin dominance may have seen the peak. This means that altcoins will open up in the coming days. As it is known, when Bitcoin dominance falls, altcoins take action.
Bitcoin dominance once dropped below 50% and started the 2017 ICO craze, where altcoins, which provided serious returns to some investors, came to the fore. But after this incident, Bitcoin continued to hold its place for a long time.
Analyst Crypto Amsterdam said that the dominance rate of Bitcoin has already reached its peak, and there is no possibility of further increase. This may cause altcoins to start taking over dominance slowly.
Bitcoin dominance dropped to 55% in September, then on the rise again. At the time of writing, Bitcoin has a 66.5% dominance rate in the crypto money market.