Bitcoin Dominance Is Breaking Down, But Don’t Expect an “Altseason”

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Bitcoin’s price action over the past few weeks has not been impressive by the standards of altcoins. While BTC has stagnated in the low-$9,000s, certain cryptocurrencies have literally gone parabolic. No coin shows this trend as well as Chainlink (LINK), which is now one of the top-10 cryptocurrencies. The popular altcoin, one of the most popular on Crypto Twitter by far, is up by around 400-500% since the lows of March. And it’s up by thousands of percent since the December 2018 lows. This recent price action has pushed Bitcoin dominance to a breaking point, but many are certain that an altseason may not arrive. Bitcoin Dominance Is At a Breaking Point The best way to measure the performance of altcoins versus Bitcoin is through BTC dominance. BTC dominance is the percentage of the cryptocurrency market made up of BTC; the higher the percentage, the less the value altcoins have…

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