Bitcoin Dominance Reaches Three-Year High
If Bitcoin's dominance increases, alternative cryptocurrencies, or altcoins, may experience a decline in value . This is because investors might view Bitcoin as a safer bet and move their investments away from altcoins . However, some investors might view this as an opportunity to invest in altcoins, which could lead to an increase in their value Âč. It's also worth noting that the cryptocurrency market is influenced by many complex factors, so Bitcoin's dominance is just one part of the picture.
On the other hand, some investors are bullish on altcoins, predicting a "mega rally" for altcoins in Q4 2024 and a "parabolic year" for altcoins in 2025 ÂČ. Some are even suggesting that altcoin dominance is poised for a major bull run in 2024-2025.
