A popular crypto analyst predicts a huge rally for altcoins soon. This prediction is based on a key Bitcoin metric, Bitcoin Dominance (BTC.D).
Bitcoin Dominance and Altcoin Performance
Bitcoin dominance measures Bitcoin’s share of the total cryptocurrency market cap. Currently, it sits around 61.86%. When BTC.D falls, it often means altcoins are outperforming Bitcoin.
The analyst, Rekt Capital, points out that BTC.D is likely to decrease after recently hitting a high. This drop, he says, will trigger a significant altcoin rally. He also notes that smaller altcoin gains might happen during temporary dips in BTC.D before the main reversal.
Historical Trends and Predictions
Rekt Capital highlights a historical pattern: BTC.D has repeatedly reached around 71% before sharply declining, leading to strong altcoin seasons. He believes this pattern will repeat. He expects that once BTC.D hits 71% again and fails to break through, a major correction will follow, resulting in a substantial altcoin boom.
The Analyst’s Outlook
Rekt Capital emphasizes that while BTC.D is currently on an upward trend, potentially reaching 71% in the coming months, pullbacks are normal. These pullbacks, he argues, will provide opportunities for altcoin gains. However, the truly massive altcoin rally will only happen after BTC.D hits 71% and then reverses course.
Disclaimer: This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before investing in cryptocurrencies.
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