Bitcoin continues to strengthen its leadership in the market. Famous analyst Peter Brandt predicts that Bitcoin’s market domination will reach 66 %. So, what does this mean for the subcoins? What strategy should investors follow? Here are the critical details of the future of the market!
Bitcoin domination is increasing: Are Altcoins under pressure?
Although Bitcoin has a slight decrease in the last 24 hours, it is still the most powerful player in the market. According to Brandt, the interest of corporate investors will continue to increase Bitcoin’s market domination. In the last two years, BTC has gained more than 500 %value. However, it is now stuck between 90 thousand and 109 thousand dollars. If it comes out of this range, the price is possible to rise up to $ 135 thousand.
On the contrary, Bitcoin may decline to $ 75 thousand. Therefore, investors should follow the price movements carefully in the coming weeks. Bitcoin’s market domination is currently around 60 %. If it reaches 66 %, the pressure on the Altcoin market may increase further. Investors should focus on the volume and domination of Bitcoin to determine the direction of the market.
Does a new season begin for Ethereum and Altcoins?
Although Bitcoin’s rise puts Altcoins in a difficult situation, some analysts think the Altcoin season is approaching. The Ethereum/BTC parity was in a long -standing trend. However, he made investors hopefully by leaping from a critical level of support. Ethereum continues to enter the radar of large funds. According to Eric Trump, it may be a great time to get ETH. If Bitcoin’s dominance is really 66 %, the Altcoin market may be further stuck. However, strong projects such as Ethereum may resist.
The Altcoin market can remain in the background, especially during Bitcoin rally. However, historical data show that Altcoin seasons often began after Bitcoin reached the top of the dominance. In other words, as the domination of the BTC increases, investors can evaluate new opportunities in the Altcoin market.
Are new records at the door under Bitcoin domination?
While Bitcoin’s market domination increases, investors should be careful. If Brandt’s estimation occurs, many subcoin may experience serious depreciation.
The coming weeks will be critical for the market. Will Bitcoin continue to rise, or will the Altcoin season begin? All eyes will be in BTC’s price movements! If Bitcoin exceeds $ 135,000, the market may enter a new bull run. However, in the opposite scenario, difficult days may be waiting for Altcoin investors.
