Quote from: Learn Bitcoin on October 29, 2024, 07:47:40 AM

Quote from: Swordsoffreedom on October 28, 2024, 10:40:17 AM

Bitcoin dominance hasn't peaked yet, I think it could hit 62-64% before turning around and starting a real bull run as many expect.

But in that case, I feel like altcoins will start to bleed if Bitcoin dominance increases a lot. But if Bitcoin dominance increases and the price goes up as well, then altcoins won't pump. But if Bitcoin dominance decreases, but the price goes up, then we are most likely to see a massive bull run. For now, Bitcoin goes up for a couple of days and then takes a correction for two days which actually dumps the entire altcoin market. Bitcoin has been accumulating for four to five weeks, but most altcoins dumped up to 100% in the recent couple of weeks.

If bitcoin dominance increases and altcoins continue to fall then it is inevitable but I think it won't be too serious because as you said altcoins have fallen too much. If you look back at history, you will see that bitcoin dominance in previous cycles would reach 7x before dropping to create a strong bull market. But with so many altcoins coming out in this cycle, bitcoin dominance has dropped significantly so I think 62-64% would be the most reasonable level.

BTC.D broke above 60% yesterday and I believe it will soon continue to rise before falling, meaning we are very close to the bull season we are expecting. We have held out so far, there is no reason to panic at this point no matter what happens.