{"id":387448,"date":"2019-06-25T14:11:42","date_gmt":"2019-06-25T14:11:42","guid":{"rendered":"https:\/\/uniquehot.com\/?p=387448"},"modified":"2024-06-11T07:00:46","modified_gmt":"2024-06-11T07:00:46","slug":"crypto-bitcoin-dominance-altcoins-btc","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/crypto-bitcoin-dominance-altcoins-btc\/","title":{"rendered":"Crypto Diverges: Bitcoin Dominance at 60%, Altcoins Face Major Capitulation Event"},"content":{"rendered":"

The crypto market is an unusual one. The Wild West atmosphere, the volatility, and the 24\/7, 365 trading provides little rhyme or reason, and often times Bitcoin<\/a> and altcoins rise together, while other times they do not.<\/p>\n

At the start of the year, both Bitcoin and altcoins performed well relative to their bear market lows. Many altcoins doubled in value, until Bitcoin breached $4,200 and altcoins struggled to keep up ever since – bleeding out in their ratio relative to Bitcoin<\/a>. The carnage continues, and as Bitcoin tests new 2019 highs, altcoins may be facing a major capitulation event if they fall any further than the bear market lows they had previously set.<\/p>\n

Bitcoin Dominance Hits 60%, Over 63% Could Spell Doom for Alts<\/h2>\n
Bitcoin\u2019s rally continues. After breaching above the important FOMO trigger of $10,000<\/a>, soon after, Bitcoin bested $11,000 and just recently made its first test of strong resistance at $11,500.<\/p>\n
Related Reading | Bitcoin Returns 144,912% in 7 Years, Investors Always Wish They Bought More<\/a><\/strong><\/em><\/p>\n
Resistance from $11,500 through $12,000, with key areas around $11,700 offer the final nail in the coffin for the bear market. Analysts claim once this level is taken, the bull market will truly begin.<\/p>\n
With so little resistance above this area, Bitcoin should – as one-half of the Winklevoss twins has pointed out<\/a> – push right to $15,000 soon.<\/p>\n
https:\/\/twitter.com\/macnbtc\/status\/33743618?s=12<\/p>\n
Alongside Bitcoin price, BTC dominance is also rising. Dominance is now breached 60%<\/a>, and is quickly trending higher. Crypto analysts say that 63.5% represents an area at which a bounce for alts might be expected – or signal certain doom if Bitcoin continues to suck all the value out of the market.<\/p>\n
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Crypto Analyst: Altcoins Could Face Major Capitulation Event<\/h2>\n
The allure of alt season may soon be nothing more than a pipe dream designed to be shilled to the masses while further value was extracted from their already heavy altcoins bags. Altcoins – except for a few rare exceptions – have struggled to regain ground lost during the bear market relative to Bitcoin.<\/p>\n
Related Reading | Bull Market Imminent? Why Investors are Stacking Ethereum, XRP, and Litecoin<\/a><\/strong><\/em><\/p>\n
Compared to Bitcoin which has reclaimed 75% of its all-time high, most altcoins are still down from where they were 16 months ago at the start of the bear market.<\/p>\n
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Top 10 … 16 months later..<\/p>\n
Bitcoin: $11,500 ( +35% )
Ethereum: $314 ( -69% )
Ripple: $0.47 ( -50% )
Bcash: $477 ( -63% )
Litecoin: $135 ( +4.6% )
EOS: $7.20 ( -25% )
Cardano: $0.095 ( -75% )
Stellar: $0.127 ( -67% )
NEO: $18.06 ( -85% )
IOTA: $0.45 ( -75% )#bitcoin<\/a> https:\/\/t.co\/SAJQpEgiPU<\/a><\/p>\n
— A v B (@ArminVanBitcoin) June 25, 2019<\/a><\/p><\/blockquote>\n