A pseudonymous trader “Rekt Capital” spoke along this lines:
“Altcoin Market Cap launched into new All-Time Highs from the very same level that launched Altcoin Market Cap into new December 2017 All-Time Highs. A perfect example of market cyclicality if there ever was one.”
Bitcoin’s consolidation is giving Altcoins ample room to run. This is causing more traders to anticipate more “Alt season”. A well-known analyst indicated that the Bitcoin dominance chart shows a potential bottoming construction at a key support level. As long as Bitcoin dominance continues to weaken, Altcoins would continue to strengthen.
Bitcoin Dominance Chart
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