The expert believes that if this momentum takes the price of Bitcoin to a range between $80,000 and $90,000 in the next 30 days, its dominance may reach as high as 61%.
Ash pointed out that Bitcoin’s bull run often causes Altcoins to take a back seat. In conclusion, the expert’s observations suggest that despite the current rise in Bitcoin dominance, a new Alt Season may still be on the horizon, promising significant gains for Altcoin investors in the coming months.
As a result, the expert advised Altcoin investors to hold onto their assets for the next six months to capitalize on the anticipated rise in the value of Altcoins during the next Alt Season.
However, he also noted that a strong rally in Bitcoin’s price may outperform Alts for a few weeks. He added that this pattern was observed in the previous crypto cycle.
Bitcoin’s Dominance Rising: What It Means for Altcoins
According to crypto expert Ash Crypto, the rising dominance of Bitcoin may signify a shift in the fortunes of Altcoins. Over the last few weeks, the Bitcoin dominance rose from 57.69% on October 1 to 58.81% as of October 17. Currently, the overall BTC market return analysis indicates the possibility of the market witnessing tremendous growth in Q4, with October as the first month of the final quarter.
