Bitcoin Dominance at levels not seen since last major Altcoin Season

Bitcoin Dominance at levels not seen since last major Altcoin Season

By Doc | Doc | 7 Sep 2019


Bitcoin is inching back up to dominance levels not seen in over 2.5 years.

The Bitcoin Dominance Index is approaching 70%.

This is the highest level since March of 2017.

Which is the highest level of dominance bitcoin has enjoyed in over 2.5 years.

351665157-b649309f4591f9ef04b0edab72132f5078aecad684efc38ec55afee0404049ed.png

(Source: https://coinmarketcap.com/charts/#dominance-percentage)

What does this mean for altcoins?

Well, maybe nothing, or perhaps something.

The last time bitcoin was at these levels, it was right before the dominance level fell off a cliff and sparked the greatest prolonged Altcoin Season in history.

This was when steem started marching up from $.07 per coin and ran all the way to $2.83. Then several months later made another run from $1 to $9.

Will we see another altcoin season emerge soon?

I'm guessing... probably.

Stay informed my friends.

-Doc

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