There are only two types of currencies in the crypto world: besides Bitcoin, everything else is called Ethereum!
These three charts are very interesting.
1. The market capitalization ratio of Bitcoin is approaching a sensitive area. In 2017, 2019, and 2020, it reached over 70% three times, which triggered varying degrees of altcoin seasons. So to see if an altcoin season will come, we first look at BTC's market capitalization.
Why can't it go higher? Since historically it has been blocked in the range of 71%-73% three times, this indicates that this is the threshold for Bitcoin's share in the entire crypto market. Exceeding this threshold would definitely make it unsustainable for the industry, which is why it has been blocked in this range multiple times.
Currently at 65%, there is still a bit of distance to 70%. However, what is different this time is that in 2017 there may have been only a few hundred altcoins, but now there could be tens of thousands of altcoins. With more variety, the market capitalization has decreased, which is why altcoins have remained stagnant.
1. The market capitalization ratio of Bitcoin is approaching a sensitive area. In 2017, 2019, and 2020, it reached over 70% three times, which triggered varying degrees of altcoin seasons. So to see if an altcoin season will come, we first look at BTC's market capitalization.
Why can't it go higher? Since historically it has been blocked in the range of 71%-73% three times, this indicates that this is the threshold for Bitcoin's share in the entire crypto market. Exceeding this threshold would definitely make it unsustainable for the industry, which is why it has been blocked in this range multiple times.
Currently at 65%, there is still a bit of distance to 70%. However, what is different this time is that in 2017 there may have been only a few hundred altcoins, but now there could be tens of thousands of altcoins. With more variety, the market capitalization has decreased, which is why altcoins have remained stagnant.
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ETH
1,905.69
+4.14%