2024

when

Reversal

<p>Altcoins, eternal companions of Bitcoin, sadly watch their queen continue to reign supreme in the crypto kingdom. While the long-awaited ‘altcoin season’ seems elusive, everyone’s eyes remain fixed on the leader. Historically, Bitcoin’s rises have preceded altcoin surges, but this time, the scenario might play out differently.</p>
<h2 id="h-bitcoin-an-unquestionable-domination-that-hinders-altcoins">Bitcoin: An Unquestionable Domination That Hinders Altcoins</h2>
<p>For months, Bitcoin has maintained <strong><a href="https://www.cointribune.com/en/bitcoins-unshakeable-dominance-weathering-the-storm-at-55/" target="_blank" rel="noopener noreferrer nofollow">overwhelming dominance</a></strong> over the cryptocurrency market, preventing altcoins from experiencing their traditional surge.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1">
 </div>
</div>
<p>According to CoinMarketCap data, <strong>more than 90 days after <a href="https://www.cointribune.com/halving-bitcoin-levenement-tant-attendu-est-enfin-arrive/#:~:text=Le%20Halving%20de%20Bitcoin%20de%202024%20est%20d%C3%A9sormais%20derri%C3%A8re%20nous&amp;text=Vers%203%20heures%20du%20matin,le%20nombre%20de%20BTC%20%C3%A9mis." target="_blank" rel="noopener noreferrer nofollow">the 2024 Halving</a></strong>, Bitcoin’s market share remains high at 53.9%. Crypto enthusiasts wonder if an altcoins season is still possible before the end of the year.</p>
<div class="affiliate-button"><a class="affiliate-button__link" href="https://accounts.binance.com/en/register?ref=35547494" target="_blank" rel="noopener noreferrer nofollow">Buy cryptos with Binance</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noopener noreferrer nofollow">This link uses an affiliate program.</a>
</div>
<p>‘CryptoBusy’, a famous <a href="https://x.com/CryptoBusy/status/1810694160812536317?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">crypto analyst on Twitter</a>, highlights:</p>
<p>“If we follow what happened previously, the altcoins season might not occur until the fourth quarter of 2024 or early 2025.”</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <div class="entry-content-asset">
   <div class="social-embed-container">
    <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
     <p lang="en" dir="ltr">ALTCOIN SEASON TO HAPPEN IN Q4 2024 TO 2025? <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f914.png" alt="🤔" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> dominance is still rising, and altcoin dominance could dump. <br><br>If we follow what happened in the previous price action of BTC.D: <br><br>2016: 243 days after the halving, altcoin season happened when <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BTC</a> dominance dumped 63%… <a href="https://t.co/kYzKXl2TsE" rel="noopener noreferrer nofollow">pic.twitter.com/kYzKXl2TsE</a></p>— CryptoBusy (@CryptoBusy) <a href="https://twitter.com/CryptoBusy/status/1810694160812536317?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 9, 2024</a>
    </blockquote>
    <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
   </div>
  </div>
 </div>
</figure>
<p>Previous cycles have shown that <strong>a significant drop in Bitcoin’s dominance is often followed by an altcoin rally,</strong> but patience is required this year.</p>
<h2 id="h-the-crypto-market-dynamics-awaiting-a-reversal">The Crypto Market Dynamics Awaiting a Reversal</h2>
<p>Summers in the crypto world are often calm, giving way to anticipation and speculation. This year is no exception.</p>
<div class="affiliate-button"><a class="affiliate-button__link" href="https://bitvavo.com/fr/affiliate/coinmedia?a=_cta" target="_blank" rel="noopener noreferrer nofollow">€20 bonus for registering on Bitvavo</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noopener noreferrer nofollow">This link uses an affiliate program.</a>
</div>
<p>Analysts like Benjamin Cowen, CEO of IntoTheCryptoverse, insist that the cryptocurrency market capitalization is currently undervalued.</p>
<p>He notes that “the potential rise could occur at the end of the halving year or during the first half of the post-halving year.”</p>
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio">
 <div class="wp-block-embed__wrapper">
  <div class="entry-content-asset">
   <div class="social-embed-container video-container"><iframe title="Bitcoin: The Beauty of Mathematics (Part 48)" width="500" height="281" src="https://www.youtube.com/embed/kwaMZ9EVNn8?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
   </div>
  </div>
 </div>
</figure>
<p>Recent history shows that <strong>243 days after the 2016 halving, and 245 days after the 2020 halving, Bitcoin’s dominance dropped</strong>, paving the way for a mega rally of altcoins.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="2">
 </div>
</div>
<p>However, the massive BTC sale by the German government and the BTC distribution by Mt. Gox could disrupt this cycle.</p> 
<div class="tradingview-widget-container tradingview--mini-chart">
 <div class="tradingview-widget-container__widget"></div>
 <div class="tradingview--mini-chart--dark">
  <script type="text/javascript" src="https://s3.tradingview.com/external-embedding/embed-widget-mini-symbol-overview.js" async>{"symbol":"BINANCE:BTCUSD","width":350,"height":220,"isTransparent":false,"autosize":false,"dateRange":"12M","trendLineColor":"rgba(253,64,19,1)","underLineColor":"rgba(253,64,19,0.6)","underLineBottomColor":"rgba(253,64,19,0)","locale":"en","largeChartUrl":false,"colorTheme":"dark"}</script>
 </div>
 <div class="tradingview--mini-chart--light">
  <script type="text/javascript" src="https://s3.tradingview.com/external-embedding/embed-widget-mini-symbol-overview.js" async>{"symbol":"BINANCE:BTCUSD","width":350,"height":220,"isTransparent":false,"autosize":false,"dateRange":"12M","trendLineColor":"rgba(253,64,19,1)","underLineColor":"rgba(253,64,19,0.6)","underLineBottomColor":"rgba(253,64,19,0)","locale":"en","largeChartUrl":false,"colorTheme":"light"}</script>
 </div>
 <div class="tradingview-widget-copyright"><a href="https://fr.tradingview.com/symbols/BTCUSD/?exchange=BINANCE" rel="noopener noreferrer nofollow" target="_blank"><span class="text-primary-color">BTCUSD chart</span></a> by TradingView
 </div>
</div> 
<p>While waiting for Bitcoin’s dominance to finally give way, crypto enthusiasts remain on the lookout, dreaming of a spectacular altcoin surge or <a href="https://www.cointribune.com/preparez-vous-pour-laltseason-avec-ces-tokens-de-premier-choix/" target="_blank" rel="noopener noreferrer nofollow">altseason</a>. With a bit of patience and a good dose of optimism, the next altcoins season might be well worth the wait.</p>

Bitcoin: Its Dominance is Holding Back the Surge of Altcoins!

Spis treści

Cointribune EN

Inne artykuły opublikowane 10 lip 2024

How To Properly Scale in and Out of a Futures Position

AI in the Lab: OpenAI Tags Los Alamos to find is it SafE

Trump’s Crypto Support Boosts Republican Approval: Key Poll Insights

The Top Crypto Investment Pick: BlockDAG’s $56.9M Presale Beats Algorand & Bonk’s Price Growth

BlockDAG 2-Months Ahead of Timeline! X1 App Leads Mobile Mining; Ethereum ETFs & Lido DAO Token P...

Dogecoin Price Prediction: DOGE Plunges 11% In A Week As Investors Pivot To This P2E Meme Coin Wi...

Zapisz się na bezpłatny newsletter i otrzymuj codzień aktualności ze świata kryptowalut!