๐ Bitcoin dominance is approaching 68% โ Is the altcoin season coming? ๐
Amidst the ongoing volatility in the cryptocurrency market, analyst cryptododo7 ๐ noted that Bitcoin dominance (BTC.D) is nearing 68%, a historic level that may indicate an impending shift in the market. ๐ Historically, reaching peak dominance is considered an indicator of the upcoming altcoin season, where money begins to flow from Bitcoin to Ethereum (ETH) and other altcoins. ๐
๐ก If the current trend continues, we may see a sudden rise in some smaller cryptocurrencies with low market capitalization, opening golden opportunities for investors. ๐ฐ But โ ๏ธ caution is advised regarding market fluctuations, as economic and political factors can impact this scenario. ๐
Will this be the start of a major bull wave for altcoins? Or will Bitcoin maintain its dominance for a longer period? ๐ค The coming days will hold the answer! โณ
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