Btc dominance for the first time in 3 years dropped below 50%. ALT SEASON STARTED NOW!!!
I noticed that today, glad you posted it so everyone knows. When bitcoin dropped below 50%, you know already what that means, but we also have to see a bullish market, otherwise its useless. As of now, the market is bleeding, we need to bounce back and recover first.
if the dump continues, this might be the time that we will again see bitcoin dropped below $50k.
Bitcoin really dropped but i think it will not take a long time and it will bounce back, so we don't need to worry for we are still in a bullish season bitcoin still high at price even if it already dropped, last bull run the price is not so high that time and if we are going to compair it the bitcoin price today is 3x higher than the last bullrun year 2017.
The price is not that high, because eventually the correction is strong for now, for some it is normal for it to fall by almost 35%, however the altcoin season may be about to occur, in the case of DOGE, the liquidations have grown, This means that there is a strong demand, it even surpassed that of Bitcoin at one point.
In the last 24 hours, DOGE recorded $11.5 billion in daily trading volume. In the same period, Cardano (ADA), Binance Coin (BNB), and XRP saw lower trading volume than DOGE despite having larger market capitalizations.
Cryptocurrency liquidations. Source: Bybt
Source:
https://cointelegraph.com/news/new-altcoin-era-dogecoin-liquidations-briefly-surpass-bitcoinHowever, a rapid recovery of Bitcoin and ETH would have to be expected, for the altcoins to follow that same direction, for now it is a very big effort that the bulls of the altcoins make.