CandleFocus Bitcoin’s Dominance Spiked 14% in 2020—Could the Same Altcoin Rally Happen Again?
2024-10-20
Author: Content Editor
The article suggests that a new altcoin season could be on the horizon as the Bitcoin dominance index experiences significant changes. In 2020, when Bitcoin reached an all-time high, its dominance increased by 14% in just 18 days, pulling liquidity away from altcoins. However, this trend was eventually reversed, leading to a surge in the altcoin market. Experts believe that a similar pattern could occur again, with an increase in Bitcoin's dominance followed by a decline, ultimately leading to a new altcoin season. Investors and traders are cautious but hopeful for more opportunities to shift Bitcoin liquidity and potentially enter a new season of altcoins.
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