The Altcoins or Alt Seasons season is very popular with digital currency traders. This season refers to the market phase in which the price of altcoins rises sharply after the bitcoin price slows down. In the penny season, the individual share of each coin and the total share of these digital currencies in the market increases.
to the Report Newsbytes As their share of the market grows, so does their price. One of the features of Alt Season can be considered the simultaneous growth of a large part of this market. Ethereum, meanwhile, plays a flagship role and is generally the first currency to begin its broad uptrend.
With the beginning of the Altcoins season, the correlation between the price fluctuations of Altcoins and Bitcoin decreases. In other words, the price of altcoins fluctuates independently of bitcoin. Currently, various indicators indicate that there is a possibility of the beginning of the peninsula season in the future.
Reducing the dominance of Bitcoin in the market
As you know, Bitcoin has long dominated the digital currency market. Over the years, with the introduction of new digital currencies such as Ethereum, they have become more attractive to investors, reducing Bitcoin’s market share. Initially, Bitcoin had a 95% market share and is now less than 50%.
Ethereum dominates after each uptrend in the market. Other Altcoins together now hold more than 50% of the market share of Altcoins, which puts them in an acceptable position.
Ethereum currently dominates the market by more than 20%; That means about half the dominance of bitcoin. It can be said that such conditions cause the price of coins to fluctuate with more independence from the bitcoin market.
The broken uptrend pattern shows that Bitcoin’s current dominance of the market is moving in a direction that we should expect to reach above 50% soon. After this, we will probably see a fall in the dominance of bitcoin. Reducing bitcoin dominance paves the way for the rise of altcoins and increases their market share. It can be said that with the decline of bitcoins, there is a possibility of explosion of the price of coins.
Alt pennies and ascent
The price of Altcoins has jumped well so far. The important point is that the recent rally was not limited to Bitcoin. In this jump, we witnessed very significant daily ascents, which in some cases was also record-breaking. Among these ascents, we can mention the 15% increase of index penins in 24 hours.
Increasing the dominance of the coin market means increasing their price, and this price increase is usually much greater than the increase in the price of bitcoins in the same trend. Investors are always looking for great investment opportunities. Some of them are left out of the bitcoin growth and look at the penis as a lifeboat; As a result, they are looking for a coin that can be as lucrative as Bitcoin.
One of the main reasons for the sharp increase in many coins is the interest in searching and finding the next bitcoin on the market. In addition, the emergence of new technologies and the use of new tools in these technologies, has led investors to invest their money in this area, relying on the value of technologies.