What Kind of Altseason to Expect if BTC Dominance Falls Below 40%?
Bitcoin has been the dominant force in the cryptocurrency market for years. However, if BTC dominance falls below 40%, it could spark an altcoin season. In this article, we'll explore what kind of altseason we can expect and the key levels to watch for in BTC dominance.
Key Levels to Watch for in BTC Dominance:
BTC dominance has been ranging for more than two years and is currently testing the range high as resistance. The key levels to watch for in BTC dominance are:
Support: 45% / 40%
Resistance: 48% / 55% / 59%
If BTC dominance is rejected from the 48% level, we could see another altcoin season. However, if it breaks upward from 48%, we can expect another bloodbath in altcoins.
Altseason Expectations:
If BTC dominance falls below 40%, we can expect a significant shift in the cryptocurrency market. During an altcoin season, we can expect many altcoins to experience significant gains against BTC. However, it's crucial to keep in mind that investing in altcoins carries risks and always do thorough research before making any decisions.
Takeaways:
BTC dominance has been ranging for more than two years and is currently testing the range high as resistance.
Key levels to watch for in BTC dominance are support at 45% / 40% and resistance at 48% / 55% / 59%.
If BTC dominance is rejected from 48%, we could see another altcoin season. If it breaks upward from 48%, we can expect another bloodbath in altcoins.
If BTC dominance falls below 40%, we can expect a significant shift in the cryptocurrency market, with many altcoins experiencing significant gains against BTC.
Conclusion:
BTC dominance plays a significant role in the cryptocurrency market, and a fall below 40% could spark an altcoin season. However, it's essential to remember that investing in altcoins carries risks, and thorough research is necessary before making any decisions. Keep a close eye on BTC dominance levels and be prepared for any potential market shifts.
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