{"id":458131,"date":"2021-03-05T20:00:52","date_gmt":"2021-03-05T20:00:52","guid":{"rendered":"https:\/\/wncen.com\/?p=458131"},"modified":"2024-06-11T14:13:46","modified_gmt":"2024-06-11T14:13:46","slug":"bitcoin-dominance-trendline-altcoins","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-dominance-trendline-altcoins\/","title":{"rendered":"Prepare For Liftoff: Bitcoin Loses Bear Market Trendline Against Altcoins"},"content":{"rendered":"

Aside from a few rare outliers, over the last several years, owning Bitcoin has been the better investment compared to other cryptocurrencies. Altcoins like Ethereum and others have only recently caught up, and BTC dominance has maintained the lion’s share of the crypto market cap.<\/p>\n

However, dominance has lost an important trendline dating back four full years to the peak of the last bull market, and it could suggest a major turnaround is about to occur across the crypto market. Could this be the altcoin season crypto investors have been waiting for?<\/p>\n

Bitcoin Dominance Loses Crucial Bear Market Trendline<\/h2>\n

At peak Bitcoin fever in 2017, interest turned to altcoins<\/a> that were much cheaper per coin by comparison as investors searched for the next BTC.<\/p>\n

Related Reading | Five Signs That Say Altcoin Season Hasn\u2019t Even Started Yet<\/a><\/strong><\/em><\/p>\n

Those investors ended up learning the hard way that there is no replacement for Bitcoin. Altcoins plunged by as much as 99% in most instances, while Bitcoin wiped out only 84% of its gains by comparison. Both scenarios are now far in the rear view, and since then Bitcoin has a commanding lead.<\/p>\n

\"bitcoin<\/p>\n

BTC dominance has lost an important monthly trendline dating back to the top of the last bull market | CRYPTOCAP-BTC.D on TradingView.com<\/a><\/pre>\n
At the height of that fever, dominance reached as low as 35%, but has since remained around or above 63%. That key level was lost at the same time a pivotal trendline was, and now there could be no over-performance in Bitcoin<\/a> for the next year or more.<\/p>\n
The trendline in question dates back four years to the bull market peak, and has kept dominance supported ever since.<\/p>\n
Altcoins Are Ready To Explode If Dominance Dives Further<\/h2>\n
Bitcoin dominance<\/a> holds the key to unlocking the true potential of any altcoin season, which thus far the leading cryptocurrency by market cap has kept locked away for many years now.<\/p>\n
\"bitcoin<\/p>\n
A zoomed in view shows how many times BTC dominance tried to reclaim the line | CRYPTOCAP-BTC.D on TradingView.com<\/a><\/pre>\n
Losing the previous long term trendline resulted in some short term consolidation followed by a large move lower. A bearish retest of 70% BTC dominance failed, sending the important crypto market metric falling back lower to the second ascending trendline.<\/p>\n
Related Reading | Altcoin Season Is Here: \u201cBuy Crypto\u201d Surpases Bitcoin Searches On Google<\/a><\/strong><\/em><\/p>\n
With the 63% level now lost also, BTC dominance should gravitate toward the mid-50% range, allowing altcoins to soar compared to Bitcoin<\/a> for an extended period of time.<\/p>\n
Altcoins could also theoretically hold up better in a wider correction, but that scenario is unlikely as the riskier assets typically are more volatile and react more sensitively to greater crypto market selloffs.<\/p>\n
Featured image from Deposit Photos, Charts from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"
Aside from a few rare outliers, over the last several years, owning Bitcoin has been the better investment compared to other cryptocurrencies. Altcoins like Ethereum and others have only recently caught up, and BTC dominance has maintained the lion’s share of the crypto market cap. However, dominance has lost an important trendline dating back four full years to the peak of the last bull market, and it could suggest a major turnaround is about to occur across the crypto market. Could this be the altcoin season crypto investors have been waiting for? Bitcoin Dominance Loses Crucial Bear Market Trendline At peak Bitcoin fever in 2017, interest turned to altcoins that were much cheaper per coin by comparison as investors searched for the next BTC. Related Reading | Five Signs That Say Altcoin Season Hasn\u2019t Even Started Yet Those investors ended up learning the hard way that there is no replacement for Bitcoin. Altcoins plunged by as much as 99% in most instances, while Bitcoin wiped out only 84% of its gains by comparison. Both scenarios are now far in the rear view, and since then Bitcoin has a commanding lead. BTC dominance has lost an important monthly trendline dating back to the top of the last bull market | CRYPTOCAP-BTC.D on TradingView.com At the height of that fever, dominance reached as low as 35%, but has since remained around or above 63%. That key level was lost at the same time a pivotal trendline was, and now there could be no over-performance in Bitcoin for the next year or more. The trendline in question dates back four years to the bull market peak, and has kept dominance supported ever since. Altcoins Are Ready To Explode If Dominance Dives Further Bitcoin dominance holds the key to unlocking the true potential of any altcoin season, which thus far the leading cryptocurrency by market cap has kept locked away for many years now. A zoomed in view shows how many times BTC dominance tried to reclaim the line | CRYPTOCAP-BTC.D on TradingView.com Losing the previous long term trendline resulted in some short term consolidation followed by a large move lower. A bearish retest of 70% BTC dominance failed, sending the important crypto market metric falling back lower to the second ascending trendline. Related Reading | Altcoin Season Is Here: \u201cBuy Crypto\u201d Surpases Bitcoin Searches On Google With the 63% level now lost also, BTC dominance should gravitate toward the mid-50% range, allowing altcoins to soar compared to Bitcoin for an extended period of time. Altcoins could also theoretically hold up better in a wider correction, but that scenario is unlikely as the riskier assets typically are more volatile and react more sensitively to greater crypto market selloffs. Featured image from Deposit Photos, Charts from TradingView.com<\/p>\n","protected":false},"author":517,"featured_media":458134,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[142,428,13510,1119,75754,1144,78790,6664,4524,76835],"class_list":["post-458131","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins","tag-bitcoin","tag-bitcoin-dominance","tag-btc","tag-btc-d","tag-btcusd","tag-btcusdt","tag-crypto","tag-xbt","tag-xbtusd"],"acf":[],"yoast_head":"\nPrepare For Liftoff: Bitcoin Loses Bear Market Trendline Against Altcoins<\/title>\n<meta name=\"description\" content=\"Aside from a few rare outliers, over the last several years, owning Bitcoin has been the better investment compared to other cryptocurrencies. 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Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \"The Bull\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.","sameAs":["https:\/\/coinchartist.io\/","https:\/\/www.instagram.com\/coinchartist_io\/","https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC","https:\/\/www.youtube.com\/@coinchartist_io"],"url":"https:\/\/wncen.com\/author\/tonymspilotro\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Prepare For Liftoff: Bitcoin Loses Bear Market Trendline Against Altcoins","url":"http:\/\/wncen.com\/news\/bitcoin-dominance-trendline-altcoins\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-dominance-trendline-altcoins\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/03\/bitcoin-dominance-btc.d-altcoins-liftoff-Depositphotos_247250934_xl-2015-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/03\/bitcoin-dominance-btc.d-altcoins-liftoff-Depositphotos_247250934_xl-2015-scaled.jpg?fit=2560%2C1620"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Tony \"The Bull\" Severino"}],"creator":["Tony \"The Bull\" Severino"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoins","bitcoin","bitcoin dominance","btc","btc.d","btcusd","btcusdt","crypto","xbt","xbtusd"],"dateCreated":"2021-03-05T20:00:52Z","datePublished":"2021-03-05T20:00:52Z","dateModified":"2024-06-11T14:13:46Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Prepare For Liftoff: Bitcoin Loses Bear Market Trendline Against Altcoins\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-dominance-trendline-altcoins\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-dominance-trendline-altcoins\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/bitcoin-dominance-btc.d-altcoins-liftoff-Depositphotos_247250934_xl-2015-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/bitcoin-dominance-btc.d-altcoins-liftoff-Depositphotos_247250934_xl-2015-scaled.jpg?fit=2560%2C1620\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Tony \\\"The Bull\\\" Severino\"}],\"creator\":[\"Tony \\\"The Bull\\\" Severino\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoins\",\"bitcoin\",\"bitcoin dominance\",\"btc\",\"btc.d\",\"btcusd\",\"btcusdt\",\"crypto\",\"xbt\",\"xbtusd\"],\"dateCreated\":\"2021-03-05T20:00:52Z\",\"datePublished\":\"2021-03-05T20:00:52Z\",\"dateModified\":\"2024-06-11T14:13:46Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/03\/bitcoin-dominance-btc.d-altcoins-liftoff-Depositphotos_247250934_xl-2015-scaled.jpg?fit=2560%2C1620","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/458131","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/517"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=458131"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/458131\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/458134"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=458131"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=458131"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=458131"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}