Altcoins Surge as Bitcoin Dominance Drops
At last, Bitcoin dominance is going down and that is the moment every investor is waiting for. This is the main reason altcoins are pumping and I see many coins that pump more than 30%.
That's a good sign for the altcoin season. Bitcoin dominance must come down below 50 to confirm the altcoin season.
This will happen only when BTC price get stable and we see Bitcoin dominance going downside.
Many altcoins including Hive pumped by more than 30% from last night showing some good momentum.
The main reason is the decrease in the price of Bitcoin dominance that will surely give a good start to the altcoins.
If you see on the chart of the altcoins, you will see almost the same pattern for every crypto coin. This is the because in the decrease of Bitcoin dominance.
Now what makes us cautious is that there is more possibility for Bitcoin to take a huge correction may be taking the price down to 75,000.
During this time altcoins will bleed once again.
That will be the right time to sell some of your holdings for take for profit taking because altcoins are plummeted by more than 50% in the last 15 days, which is a good rise for the investors who want to invest newly.
I will not recommend to invest in such market scenario and better is to wait for Bitcoin to take a correction for fresh investing.
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