Coach K Crypto and Moataz Elsayed predict that Bitcoin’s market dominance has peaked and will soon decline, marking the start of an altcoin season.
Bitcoin Dominance, which expresses the percentage of Bitcoin’s value in the total cryptocurrency market, reached a three-and-a-half-year high of 58.95% today, and at the same time, the price rose to $68,000 after 2.5 months.
Analyst Coach K Crypto stated that Bitcoin has reached its peak in this cycle and its dominance will collapse in a short time. Stating that a sharp decline in Bitcoin will provide an opportunity for altcoins, Coach K Crypto emphasized that dominance has not been this high since 2021. The analyst stated that meme coins will also experience a big rise.
Analyst Moataz Elsayed also predicted in his commentary on October 14 that Bitcoin’s dominance would fall sharply and the altcoin season would begin. The ETH/BTC ratio, on the other hand, fell to its lowest levels since 2021, indicating that Ethereum could also recover after Bitcoin’s decline.
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