Can altcoins gain ground as Bitcoin dominance weakens?
Share link:In this post: Bitcoin’s market dominance has taken a hit from 56% to under 55% in a week. The declining dominance ratio usually indicates a possible rise in altcoin share. Mt Gox’s $9-billion repayment plan is further adding to Bitcoin’s weaknessDisclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified prof
Bitcoin Dominance has been falling June from 56% last week to under 55% as June concludes. The falling ratio is accompanied by a price weakness with only optimistic expectations from altcoins in the current cycle.
Also Read: Bitcoin’s weekly close could pave way for new all-time highs
Analysts have often noted that Bitcoin’s fading dominance could make way for the rest of the crypto market to a chunk of the lost share, making them gain ground.
Bitcoin Dominance is on a decline
Bitcoin Dominance is down almost 2% in the last 7 days until June 25. According to TradingView charts, the ratio now stands under 55%.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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