Altcoins awakening? Bitcoin Cash, Litecoin, EOS & more on the bull train

11 May, 2019
by Alberto Arnaldo
Price Action
Altcoins awakening? Bitcoin Cash, Litecoin, EOS & more on the bull train

With Bitcoin astonishing traders and breaking all the consensus forecasts, some of the main altcoins appear to be starting to show signs of an incoming bull run.

The apparently unstoppable strength which has pushed Bitcoin up to contesting the $7,000 range has triggered clear contagion signs on Litecoin and Bitcoin Cash, up to now.

As shown in the chart below, Bitcoin’s market dominance has been rallying as of late, currently sitting at a 61.2% level, with Ethereum second and 10.04%, Ripple on the third place at 6.66% and Litecoin fourth at 2.71%.

Chart provided by Tradingview

Some traders are starting to predict that the next main move from the market will be characterized by an increase of the dominance and price of altcoins, while Bitcoin waits for them to catch up keeping most of its new gains:

Litecoin and Bitcoin Cash started the bullish push on the top 10, shown in the screenshot below, just a couple hours ago. And in the last few minutes, Cardano and EOS have added up to the gains with increases nearing 10%.

Chart provided by Tradingview

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