Bitcoin

<p>The post <a href="https://coinpedia.org/price-analysis/bitcoin-liquidity-moving-to-altcoins-altseason-expected-in-2-3-months/" rel="noopener noreferrer nofollow">Bitcoin Liquidity Moving to Altcoins: Altseason Expected in 2-3 Months</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>The cryptocurrency industry has registered relief gains in the last 24 hours as Bitcoin (BTC) price briefly rallied above $63,000 on Monday. The total crypto market cap gained around 2 percent to hover about $2.42 trillion at the time of this report. Nonetheless, Bitcoin has continued to dominate the crypto industry, with a dominance of around 55.4 percent on Monday.</p>
<h2 class="wp-block-heading" id="h-altseason-timeline-nbsp">Altseason Timeline&nbsp;</h2>
<p>According to renowned crypto analyst Benjamin Cowen, the founder of IntoTheCryptoverse, Bitcoin’s dominance is en route to 60 percent in the near term before experiencing an inevitable reversal. As a large chunk of altcoin traders opt to watch from the sidelines amid the upcoming final decision of spot Ether ETFs, Bitcoin’s dominance could rise in the near term.</p>
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   <p lang="en" dir="ltr">Another reminder that <a href="https://twitter.com/search?q=%24BTC.D&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC.D</a> is exhausting and <a href="https://twitter.com/search?q=%24alts&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$alts</a> should run this summer.<br><br>The signs are there so don’t be that guy with hands in the air wondering why <a href="https://twitter.com/search?q=%24alts&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$alts</a> are mooning come July/August, especially after correcting 40-50%.<a href="https://twitter.com/hashtag/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#bitcoin</a> <a href="https://twitter.com/hashtag/cryptocurrency?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#cryptocurrency</a> <a href="https://twitter.com/hashtag/cryptonews?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#cryptonews</a> <a href="https://t.co/NpfWLF8AHX" rel="noopener noreferrer nofollow">pic.twitter.com/NpfWLF8AHX</a></p>— Roman (@Roman_Trading) <a href="https://twitter.com/Roman_Trading/status/1789772600626872705?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 12, 2024</a>
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<p>However, according to a popular crypto trader alias Roman on the X platform, the highly anticipated altseason will likely materialize between July and August. The crypto analyst indicated that most altcoins have already completed a general-wide correction of between 40 and 50 percent and are thus well primed for a rebound.</p>
<p>The crypto trader pointed to the falling divergence on the daily Relative Strength Index (RSI) amid rising Bitcoin dominance as a major indicator of the inevitable reversal.&nbsp;</p>
<p>As the crypto market continues to range horizontally, high-impact news, such as the US CPI data later this week, will spike the overall volatility. The ultimate altcoin trigger will be the reversal in the ETH/BTC pair on the weekly time frame. As a result, now is the best time for long-term traders to accumulate further for a higher risk-to-reward ratio.</p>

Bitcoin Liquidity Moving to Altcoins: Altseason Expected in 2-3 Months

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