The Rising Bitcoin Dominance Index and an Altcoin Season Aren’t Mutually Exclusive

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In the cryptocurrency world, there is Bitcoin, and all the other markets combined. The correlation between the world’s leading cryptocurrency and everything else is mindblowing. As of right now, the Bitcoin Dominance Index sits at 70%. A very interesting situation, as it seems to indicate the expected altcoin rally will not occur anytime soon. Returning to pre-2017 Times Enthusiasts and traders who have been active in cryptocurrency since the early days will know Bitcoin is the only force to be reckoned with. Despite the influx of thousands of altcoins, tokens, and assets, no market has come close to toppling Bitcoin. Nor will any of those markets come closer in the future, as they simply do not pack enough oomph to make anything stick. For most people, altcoins exist purely to increase their BTC holdings. Prior to 2017, it was rather common to see a Bitcoin Dominance Index of 70% or…

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