2024

Bitcoin

<p>The post <a href="https://coinpedia.org/news/is-altcoin-season-finally-here-as-bitcoin-dominance-breaks-the-bearish-wedge-pattern/">Is Altcoin Season Finally Here? As Bitcoin Dominance Breaks the Bearish Wedge Pattern&nbsp;</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Over the past few months, the prices of many altcoins have fallen significantly, by 30% to 70%. This sharp decline has made many analysts skeptical about the chances of an altcoin season. However, recent developments in Bitcoin’s dominance are providing a glimmer of hope.</p> 
<p>Meanwhile, Prominent crypto trader Titan of Crypto has pointed out that Bitcoin’s dominance has broken a bearish wedge pattern. This means <a href="https://coinpedia.org/news/expert-downplays-bitcoins-sub-30-correction-lists-positive-factors/" target="_blank" rel="noreferrer noopener">Bitcoin’s share of the market is decreasing</a>, which could be a sign that altcoin season is starting.</p> 
<h2 class="wp-block-heading" id="h-breakout-in-bitcoin-dominance">Breakout in Bitcoin Dominance</h2> 
<p>In a recent analysis, Titan of Crypto has confirmed a significant breakout in the rising wedge pattern on Bitcoin dominance charts.&nbsp;</p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Altcoins?src=hash&amp;ref_src=twsrc%5Etfw">#Altcoins</a> <br><br>The breakout of the rising wedge on <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> dominance is confirmed. <br><br>After weeks of corrections this could be the time for <a href="https://twitter.com/hashtag/Alts?src=hash&amp;ref_src=twsrc%5Etfw">#Alts</a> to recover and more. <a href="https://t.co/kyaOe4WNSE">pic.twitter.com/kyaOe4WNSE</a></p>— Titan of Crypto (@Washigorira) <a href="https://twitter.com/Washigorira/status/1811430722219237422?ref_src=twsrc%5Etfw">July 11, 2024</a>
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<p>According to the 1-week charts, a bearish wedge pattern has formed and a breakout has now been confirmed. This pattern typically signals a downward trend, indicating that Bitcoin’s dominance in the market is likely to drop from its current level to 39.97%.</p> 
<p>Titan of Crypto’s analysis suggests that the decline in Bitcoin dominance could create a favorable <a href="https://coinpedia.org/news/veteran-crypto-trader-highlights-roadmap-for-the-beginning-of-altcoin-season/" target="_blank" rel="noreferrer noopener">environment for altcoins to recover</a>. After experiencing weeks of corrections, this shift might allow altcoins to regain value and market position.&nbsp;</p> 
<p>However, Trader suggests that investors could see this as an opportunity to shift their focus towards altcoins, expecting a potential gain.</p> 
<h2 class="wp-block-heading" id="h-altcoin-began-to-outperform-btc">Altcoin Began To Outperform BTC</h2> 
<p>Looking at the <a href="https://in.tradingview.com/symbols/BTC.D/" target="_blank" rel="noreferrer noopener nofollow">weekly charts</a>, BTC.D fell from 62.69% in March 2021 to 40.89% in May of the same year. This period coincided with many altcoins reaching their all-time highs during the last bull market.&nbsp;</p> 
<p>However, for the market dynamics to resemble those of 2021, at least 75% of the top 50 altcoins must perform better than Bitcoin. The <a href="https://coinpedia.org/price-analysis/bitcoinbtc-price-falls-under-55000-altcoin-season-in-making/" target="_blank" rel="noreferrer noopener">decrease in Bitcoin dominance</a> allowed altcoins to gain attraction and outperform Bitcoin.</p> 
<p>Bitcoin’s dominance has decreased slightly this week from 55.04% to 54.68%. This small drop suggests that some altcoins have started to outperform Bitcoin.&nbsp;</p> 
<p>Read Also: <a href="https://coinpedia.org/price-analysis/top-underspoken-altcoins-to-beat-the-market-in-july/" target="_blank" rel="noreferrer noopener">Top Altcoins Picks For Breakout Rally Gains Next Week</a></p>

Is Altcoin Season Finally Here? As Bitcoin Dominance Breaks the Bearish Wedge Pattern

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