BTC Dominance At 60% Will Be Bullish For Bitcoin But Won’t Be Good For Most Altcoins

Bitcoin is making its way up again after a short lull swinging around $7,900 and $8,000. The crypto has already broken above $9k and seems to be headed to the $9,500 range. While this may sound like good news for much of the rest of the market since Bitcoin tends to drag other crypto prices with it, someone like Josh Rager doesn’t think this should be celebrated – at least not yet.

Josh took the liberty to explain his point of view in a tweet that has since attracted the attention of many within the crypto realm. According to him, Bitcoin’s dominance has already increased by about 2%, and the total dominance could soon soar to over 60% if this trend continues. A 60% market dominance for Bitcoin would prove catastrophic for most altcoins.

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#Altcoins #BTC #BTCDominance #TA

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