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.
(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