Assalamu Alaikum friends,
Bitcoin has created its new all-time high in the past 2-3 days. Due to this, a new kind of bullish sentiment is working in the crypto market. Due to this bullish sentiment, altcoins have also started pumping along with Bitcoin. And due to this altcoin pump, Bitcoin's dominance has started decreasing. Which is a positive direction for altcoins.
We all know that when Bitcoin dominance drops, altcoins pump. And if you look at Bitcoin dominance, it is seen that it is in a downtrend. As a result of this downtrend, the alt market will come and start pumping at some point. Signs of which are already being seen.
With just a small drop in Bitcoin dominance, the altcoin market is witnessing massive changes. When Bitcoin dominance drops significantly, the altcoin market will also be in its prime.
The expectation is that this dropping rally of Bitcoin dominance will continue. Additionally, at these moments, Bitcoin will continue to move sideways from a slight dump or stable. Not much change will be observed in the price of Bitcoin at that time. This time, the hope is that no kind of bad news will come and dump the market.
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Thanks
Bitcoin's new all-time high and the new bullish sentiment it has created in the market is truly remarkable. Thank you for your explanations, which are very simple.
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