Bitcoin dominance is growing: setback for hopes for an upcoming Altcoin Season

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Die Auswirkungen der Bitcoin-Dominanz auf den Altcoin-Markt In den letzten Wochen hat sich die Hoffnung auf eine bevorstehende Altcoin Season merklich verringert. Dies ist in erster Linie auf die anhaltende Zunahme der Bitcoin-Dominanz zurückzuführen, die weiterhin steigt und darauf hindeutet, dass Altcoins unter Druck stehen. Bitcoin, als das erste und bekannteste Kryptowährung, hat in der …
The effects of Bitcoin dominance on the Altcoin market in the past few weeks have noticeably reduced the hope of an upcoming Altcoin season. This is primarily due to the continued increase in Bitcoin dominance, which continues to increase and indicates that old coins are under pressure. Bitcoin, as the first and best -known cryptocurrency, has in ... (Symbolbild/KNAT)

The effects of Bitcoin dominance on the Altcoin market

In the past few weeks, hope for an upcoming Altcoin season has noticeably reduced. This is primarily due to the continued increase in Bitcoin dominance, which continues to increase and indicates that old coins are under pressure.

Bitcoin, as the first and best-known cryptocurrency, has a central role in the crypto world. Its dominance refers to the proportion that Bitcoin has compared to other cryptocurrencies in the entire market value of the cryptom market. An increase in Bitcoin dominance can have various causes, including stronger investments in Bitcoin or general uncertainty in the market that prompted investors to withdraw to the supposedly safer port of Bitcoin.

observers and analysts agree that this development can have significant effects on old coins. In times of increasing Bitcoin dominance, investors tend to invest fewer risk capital in alternative cryptocurrencies, which can lead to the prices for old coins stagnate or even fall.

For investors who are interested in diversification of their portfolio, this could mean that they have to remain patient while the market conditions are developing. The Altcoin Season, in which many alternative cryptocurrencies gain value and show strong price movements, could be long in coming in this environment.

The coming weeks and months will be crucial to observe whether the market conditions change and whether the old coins can ultimately become more important again. It remains to be seen how Bitcoin dominance will develop and what effects this will have on the entire crypto market.