Has the callback occurred, and can we expect to see an explosion of altcoins within a quarter?
By analyzing the weekly chart of Bitcoin's dominance rate, we can gain key insights into the fluctuations of Bitcoin's dominance and understand its impact on the altcoin market.
When the RSI trend line in the chart is broken, it provides a clear signal for changes in Bitcoin's dominance rate. At the same time, Bitcoin's dominance rate itself has also broken below its upward trend line, indicating that Bitcoin's dominance may continue to decline. It is expected that this downward trend may push Bitcoin's dominance below 50%.
Historically, periods of declining Bitcoin dominance are often accompanied by significant increases in the altcoin market, with some altcoins achieving over 20 times their value. Therefore, the current decline in Bitcoin's dominance may bring new opportunities for the altcoin market.
Certainly, history may not repeat itself exactly, but each market cycle exhibits remarkable similarities. We should believe in the power of cycles. Although the comprehensive recovery of altcoins may not be obvious in this cycle, as long as we carefully select those with strong performance and great potential, it is still very possible to seize opportunities for 5 to 20 times growth.
In the face of market turmoil and noise, we should maintain a firm belief and sufficient patience. There is no need to be confused; just focus on our investment strategy, and the market will ultimately reward us satisfactorily.