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ALTCOINS SET TO SHINE AFTER BRUTAL BITCOIN DOMINANCE REJECTION

Altcoins still have tons of catching up to do against their big brother Bitcoin. The cryptocurrency currently enjoys an over 65% market share dominance over the rest of the space.

However, that number is set to fall hard, after a strong rejection on BTC.D charts has potentially confirmed a bear flag pattern. The target of the pattern would take the metric down to 59%, just a tick above where alt season lies.

BITCOIN’S FIRST MOVER ADVANTAGE KEEPS THRONE IN TACT

Bitcoin is the first-ever cryptocurrency. Due to its first-mover advantage and lead in the market, it has long dominated the industry. Years, ago, BTC dominance was untouchable at well above 90% of the market.

But in early 2017, BTC dominance started an extended and powerful downtrend that took to as low as 35%. During this time, altcoins like Ethereum and XRP had five-digit percentage returns. Other, smaller-cap altcoins performed even better.

Life-changing wealth was generated, and a modern-day gold rush occurred. Retail investors FOMOed into altcoins without understanding what they were or used for. Bitcoin ballooned to $20,000, while Ethereum reached over $1,400 and Ripple over $3.50 per token.

But in early 2017, BTC dominance started an extended and powerful downtrend that took to as low as 35%. During this time, altcoins like Ethereum and XRP had five-digit percentage returns. Other, smaller-cap altcoins performed even better.

Life-changing wealth was generated, and a modern-day gold rush occurred. Retail investors FOMOed into altcoins without understanding what they were or used for. Bitcoin ballooned to $20,000, while Ethereum reached over $1,400 and Ripple over $3.50 per token.

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