Altseason is over
We are watching the Bitcoin dominance chart. There is every reason to believe that the altcoin season will terminate this year.
Highlighted features:
1) Chart large spikes indicate high volatility and market uncertainty
2) Around 60% support level is reached, the rebound has already started
3) Since 2017 the price channel's bottom has been reached as well as the price channel's bottom since July 2019 (red highlighted).
Commonly, all these factors indicate a very high probability of Bitcoin's dominance increasing. Plus, the alts have already won back their rapid growth, the correction is a logical continuation of the market cycle.
Highlighted features:
1) Chart large spikes indicate high volatility and market uncertainty
2) Around 60% support level is reached, the rebound has already started
3) Since 2017 the price channel's bottom has been reached as well as the price channel's bottom since July 2019 (red highlighted).
Commonly, all these factors indicate a very high probability of Bitcoin's dominance increasing. Plus, the alts have already won back their rapid growth, the correction is a logical continuation of the market cycle.
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