Bitcoin Dominance Reaches Highest Level Since December 2017, What Happens Next?

Ever since Bitcoin broke out of the lowest bear market trading range where its yearly lows were set, the crypto asset has skyrocketed, reaching prices not seen since before the bear market began in 2018.

Alongside Bitcoin price itself, the crypto asset’s dominance comparative to other assets in the crypto market – altcoins such as Ethereum, Ripple, and Litecoin – has also grown to levels not seen since the previous bull run. In the past, the divergence eventually corrects, triggering an alt season. But this time around sentiment around altcoins are at an all time low, and because institutions may be focusing on Bitcoin or other factors, dominance may continue to rise at the expense of any remaining altcoin value. What happens next for altcoins and Bitcoin dominance?

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