• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news Bitcoin

Bitcoin Dominance Exposes Altcoins To Bounce or Die Scenario

Tony Spilotro by Tony Spilotro
10 months ago
in Bitcoin, Technical analysis
Reading Time: 3min read
Bitcoin Dominance Exposes Altcoins To Bounce or Die Scenario
Advertisement

Over the last month, Bitcoin dominance has grown by nearly 3%. The climb has largely been driven by the asset’s block reward halving set for less than 24 hours from now.

The latest move in BTC dominance has left altcoins on the ropes, and exposing them to a bounce or die scenario. The apex of a multi-year triangle is nearing a resolution, and which way it breaks will determine the future of the alternative crypto assets. Is this the asset’s make it or break it moment?

Bitcoin Dominance Forms Multi-Year Triangle, Price Action Reaches Apex

BTC dominance is a metric used to weigh the first-ever cryptocurrency against the rest of the market.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Increases in the market caps of altcoins such as Ethereum, Ripple, or Chainlink lower Bitcoin’s dominance over the rest of the space.

Related Reading | This Altcoin’s Fractal Shows How Epic the Next Crypto Bull Market Can Be 

Just like price charts of individual assets, BTC dominance ebbs and flows just like anything else. During altcoin seasons, BTC dominance takes a dive. However, when things get especially bullish for Bitcoin, altcoins often suffer as a result.

Take last year’s bull run for example. Altcoins had performed strongly aside Bitcoin, until around May 2019 and then Bitcoin left them in its dust.

Alts crashed, and Bitcoin set a local high. BTC dominance reached a high of 73% before reversing.

Bitcoin is once again performing, and its halving is tomorrow. The bullish event could lead Bitcoin to break free from a separate long-term triangle on the BTCUSD pair. This would also cause a corresponding break of the triangle on BTC.D charts.

And with the most recent price action leaning heavily bullish towards Bitcoin, altcoins could see a major collapse.

bitcoin dominance btcusd

 

BTC Dominance: Will Altcoins Skyrocket Again, or Will They Be Annihilated

In the above chart, the total altcoin market cap can be seen as a trading pair against BTC. The chart essentially acts as the inverse of a BTC.D chart.

A breakdown of the multi-year triangle could result in complete destruction to altcoins that are already down over 99% in many cases.

Related Reading | Bitcoin Dominance Climbs, Leaving Altcoins Vulnerable to New Leg Down 

However, symmetrical triangles also can break up. With the prior trend being bullish for altcoins, continuation to the upside is very likely.

Clearly, given the circumstances, altcoins are at a bounce or die junction that will shape the future of the asset class.

bitcoin dominance btcusd

Bitcoin’s halving is tomorrow, and the asset is expected to explode into its next bull market as a result. But it was the last halving that kickstarted the alt season that sent the assets to their all-time highs.

In the below BTC.D chart, each halving has been highlighted with a red dotted line.

bitcoin dominance btcusd crypto altcoins btc

The 2016 halving is what sent altcoins into the stratosphere, causing BTC.D to dip from a then-high of 98% to as low as 35% as the crypto bubble of 2017 peaked.

Is the cycle restarting once again with the halving, or will Bitcoin‘s bull run crush altcoins once again?

TweetShare9
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a digital media executive and global remote work leader with a decade of content experience and excellent. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter and feel free to drop me a line if you would like to work together.

Related Posts

bitcoin bid side macro

Bid Side In Bitcoin Disappears Amidst Jittering “Macro Environment”

2 hours ago
bitcoin dollar

Dollar, Divergences, & More: Here’s Why Bitcoin Could Soon Bounce

7 hours ago
Bitcoin Analyst Explains Why Traders Should Buy Altcoins All March

Bitcoin Analyst Explains Why Traders Should Buy Altcoins All March

14 hours ago
Bitcoin Exchange Suffers Massive Outflow as BTC/USD Drops

Bitcoin Exchange Suffers Massive Outflow as BTC/USD Drops

15 hours ago
Binance Coin (BNB)

Charted: Binance Coin (BNB) Steadies Above $200, Why It Could Rally Again

20 hours ago
Ethereum

TA: Why Ethereum Below $1,400 Could Spark A Sharp Decline

21 hours ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

Bitcoin Gaming Platform FreeBitco.in Acquires 3.75 Billion FUN Tokens

February 26, 2021

60-Minute IFO, 187 Times Over-Raised, 40 Times the Price, 98 Million US Dollar Marketcap: Berry Data Has Become a Bright Star on BSC

February 26, 2021

Get Your Brand New Tokens on Defiqa’s Presale

February 26, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.