In the next two to three weeks, the Bitcoin market is about to usher in a decisive moment, which is not only related to the subsequent development trend of Bitcoin, but also may trigger the prelude of the altcoin season. At this critical moment, we must go beyond short-term fluctuations and gain insight into the deep pulse of the market.
Bitcoin weekly trend:
The next two to three weeks will be crucial for the Bitcoin market. If Bitcoin can break through and stabilize above the 200-day moving average near $6,3000 in two to three weeks, we may usher in a crazy bull market. If not, the market may continue to fluctuate or experience a short-term correction.
Interestingly, many investors mistakenly use the hourly and daily lines to judge the weekly trend, which is not a rational approach because the hourly or daily lines may experience rapid pin-spiking due to fluctuations in the contract market, but this will not affect the overall trend of the weekly line.
Bitcoin's market share:
Now let's take a look at Bitcoin's market share. Currently, Bitcoin's market share has rebounded to 57.45%, which is a healthy sign. From a weekly perspective, Bitcoin's market share is at the high point of this cycle. If Bitcoin's market share can continue to rise this week and hit a historical trend high, it may mean that Bitcoin's rapid growth phase is coming to an end.
We know that once Bitcoin's market share reaches its peak, it may mean the official arrival of the altcoin season. So what is the peak of Bitcoin's market share?
Some people believe that if Bitcoin's market share eventually reaches around 58-60%, it will likely be a peak, and altcoins may then surge. Moreover, as we all know, the Fed will cut interest rates for the first time on September 18, and the impact of the rate cut is expected to be felt in the market in advance.
At the same time, there is also a view that Bitcoin's market share may peak at two key time points. The first time point may be in early September, about a week before the official rate cut, and at the same time, the altcoin season may begin. The second possibility is that Bitcoin's market share will peak at the end of the year, because according to historical rules, Bitcoin usually performs well in the fourth quarter. Therefore, after the Federal Reserve enters a rate cut cycle, Bitcoin's market share may gradually reach a peak in the fourth quarter of this year.
This also means that from the fourth quarter of this year to the beginning of next year 2025, the overall performance of altcoins may exceed that of Bitcoin, and Bitcoin's market share may also be about to reach the end of its growth cycle and reach its peak.
Suggestions:
But this does not mean that the price of Bitcoin will stop rising after the Bitcoin market share reaches a high point, but it means that altcoins may perform better. Therefore, for investors holding altcoins, they need to be patient again!
Therefore, for those who already hold a large number of altcoins, paying close attention to Bitcoin's market share in recent weeks can be a new reference factor.
👀 Bitcoin's critical moment is coming, are you ready? Do you think Bitcoin can break through and stabilize the 200-day moving average in the next two to three weeks, and start a new crazy bull market? Will Bitcoin's market share be a reference for your consideration of investing in altcoins? Welcome to share your analysis and predictions in the comment section!
