Bitcoin Analyst Shares 4 Reasons Why the Altcoin “Party” Will End Soon

shutterstock 774708895 630x420

It’s been an explosive week for the altcoin market, but not for Bitcoin. As Bitcoinist has extensively covered over recent days, a number of altcoins have surged higher. This list includes Dogecoin (DOGE), Chainlink (LINK), Synthetix (SNX), Cardano (ADA), and VeChain (VET). BTC vs. altcoins Tron, Ethereum, Cardano, and since the start of 2020. Chart from The recent price action has convinced some investors that an “altcoin season” is taking place. The term refers to the extremely strong price action of altcoins relative to Bitcoin in 2017 and early-2018. But there are purportedly tell-tale technical signs that the “altcoin party” is over. The Altcoin “Party” May End Soon, Says Analyst Altcoins have been on a tear over the past few days as aforementioned. This has been marked by a sharp drop in Bitcoin dominance, the percentage of the cryptocurrency market made up of BTC. But a trader says…

Read the original article here