{"id":4771,"date":"2024-09-09T09:30:44","date_gmt":"2024-09-09T09:30:44","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=4771"},"modified":"2024-09-09T09:30:44","modified_gmt":"2024-09-09T09:30:44","slug":"bitcoin-dominance-strengthens-in-key-zone-what-does-this-mean-for-altcoins","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=4771","title":{"rendered":"Bitcoin Dominance Strengthens In Key Zone, What Does This Mean For Altcoins?"},"content":{"rendered":"

Positive sentiment around Bitcoin<\/a>, the largest cryptocurrency asset, is increasing significantly in the space as the coin is seeing a wave of bullish predictions from several market experts and enthusiasts, solidifying its stance as a leader in the general market.<\/p>\n

Bitcoin Dominance Enters A Crucial Zone<\/h2>\n

As the market continues to rebound as a whole, Bitcoin is entering a key zone and is rapidly gaining market domination. The increasing dominance of Bitcoin<\/a> indicates a change in perception among market players, who see it as a safer haven among the volatility of the larger cryptocurrency market.<\/p>\n

Ash Crypto, a market expert and trader, pointed out<\/a> the optimistic development on the X (formerly Twitter) platform, which has captured a lot of attention in the community. According to the expert, Bitcoin\u2019s dominance at the moment is situated at 57%, which he considers an important zone.<\/p>\n

In the event that Bitcoin breaks above the 58% level, Ash Crypto noted that BTC will undergo a major rally, further dominating the general market. However, should the level drop below 57%, altcoins<\/a> will begin to pump, possibly leading to an altseason<\/a>. Considering these developments, Ash Crypto anticipates a bullish fourth quarter of the year, due to the performance of the market within this period in the past.<\/p>\n

Ash Crypto\u2019s anticipation of a bullish pump for BTC could be part of his previous prediction when he foresees<\/a> a $100,000 price level for the digital asset in the short term. The expert made the forecast during the heightened price fluctuations witnessed last week.<\/p>\n

Following the decline, Ash Crypto believes that the drop is the last shakeout and dump before BTC will soar to the pivotal $100,000. Although the analyst is confident that $49,000 was the bottom, he noted that his worst-case scenario would still be close to $45,000 considering the stock market decline last month.<\/p>\n

Given that the month of October often oversees a positive performance for BTC, the expert expects a big breakout within the month, potentially causing the coin to reach a new all-time high<\/a> in Q4. \u201cAfter that, massive altseason where we will see alts pump 20x \u2013 50x from the bottom in just a few weeks or months,\u201d he added.<\/p>\n

Massive Upside Momentum Incoming<\/h2>\n

Julien Bittel, Global Macro Investor (GMI) head of research has also demonstrated his confidence in Bitcoin\u2019s potential in the short term. He has predicted<\/a> an incoming upside momentum for BTC<\/a>, while pointing to striking similarities between this year\u2019s price structure and the patterns seen in 2019, generating conjecture over the possibility of a 2019 rally replay.<\/p>\n

It is interesting to note that, similar to 2019, BTC has been held up in a consolidation phase<\/a> that has lasted exactly 175 days. Thus, Bittel claims that the coin is getting close to a critical juncture where things could start \u201cmoving in a big way,\u201d noting that this week will be crucial to watch. \u201cIf the fractal holds, we could be looking at some serious upside momentum coming,\u201d Bittel stated.<\/p>","protected":false},"excerpt":{"rendered":"

Positive sentiment around Bitcoin, the largest cryptocurrency asset, is increasing significantly in the space as the coin is seeing a wave of bullish predictions from several market experts and enthusiasts, solidifying its stance as a leader in the general market. Bitcoin Dominance Enters A Crucial Zone As the market continues to rebound as a whole, […]<\/p>\n","protected":false},"author":0,"featured_media":4772,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-4771","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/4771"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4771"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/4771\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/4772"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4771"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4771"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4771"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}