Will BTC dominance fall below 30%? Crypto trader predicts Alt Season

19 Feb, 2019 | Updated: 19 Feb, 2019
by David Robb
News
Will BTC dominance fall below 30%? Crypto trader predicts Alt Season

A prominent crypto trader has predicted the coming of a new 'Alt Season' in crypto. The rising prices of altcoins could eventually see BTC dominance of the market fall below 30 percent.

Today saw red across all major altcoins, with many double-digit gains, although Bitcoin (BTC) also performed relatively well and was likely a contributing factor in this price surge.

According to Galaxy, there is a general trend in which BTC dominance rises gradually, before falling off again as the total value of altcoins rises. The most recent uptrend in BTC dominance has been one of the weakest so far, which means the market could be set up for one of the longest altcoin surges.

The trader claims that an increase in the total market cap of all non-BTC cryptos to over $61 billion would lead to a significant rally. Observers on Twitter had mixed responses to Galaxy's optimistic predictions.

Read more: 9 Ethereum price predictions for 2019 by crypto expertsThese are the 3 coins to watch for February - Cryptocurrency

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Read more about: Bitcoin (BTC)

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