Bitcoin’s market dominance falls to August 2018 lows amid alt season

01 Apr, 2019 | Updated: 01 Apr, 2019
by Alberto Arnaldo
Bitcoin
Bitcoin’s market dominance falls to August 2018 lows amid alt season

With plenty of mid and small sized projects doubling their token prices over the last few weeks, Bitcoin has been noticing the push from other cryptos in regards to market capitalization share. 

Now, the Satoshi Nakamoto-authored first crypto ever is back at dominance levels unseen since last August. The 50.1% mark was reached last summer during a prolonged bullish push from Bitcoin’s market capitalization percentage, which rose from the mid 30% levels in mid-May up to peaks slightly above 56% in September 2018. After that up to now, the trend has been a descending one, but with little volatility.

Several members of crypto Twitter are now commenting on the dwindling percentage of all cryptocurrencies held in bitcoins, with some even seemingly setting up a countdown in the past days, seeing that the 50% psychological barrier is within reach: 

A recurring feeling among the tweets appears to be the confirmation of an altcoin season being established partially thanks to the falling Bitcoin dominance, although there are some doubts as well as to how long the happily inaugurated new trend will last:

Read more: Bitcoin dominance is slowly receding, is it nearly time for alt-season?BTC dominance in the crypto market falls to three-month low

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