With the recent activity with Bitcoin breaking out of the bullish "triangle" some of the top 20 projects have benefited off the price pump scaling to the top gainers of the week.
Bitcoins market dominance stands at 53.4% meaning it has 53.4% of all the money in the crypto space with the Alt coins being pegged to price increased and decreases of the seasoned veteran, But we know that an Alt season could be on horizon….
There is a pattern with Bitcoin and you can see it reappear over the years with an uptrend in dominance, a breakdown, Altcoin season then the cycle repeats again with analysts pointing out the weaker the dominance uptrend the longer the Alt season lasts from looking at past data from 2016/2017/2018.
This is the lowest uptrend in dominance recorded so we could see the longest Altcoin bull run there has been with some expecting Bitcoins dominance to fall below 30%.
But on the other hand, why would Altcoins move so much when institutions will be focusing mainly on bitcoin?
To answer this, we need to look back to late 2017 when Bitcoin started to gain media attention and was proclaimed to be on a never-ending bull run. People can't really afford to throw let's say $10,000/$20,000 for a virtual coin in the hopes it would increase so they looked at the other cryptos on the market that cost a lot less capital so here comes the Altcoins that more than 100x because of the influx of investors without even checking out the projects.
Now imagine the people who would be joining the market once the banks and big names get into the crypto-space, exchanges have been building up for the inevitable stampede of investors that will come with legitimacy to the sector provided by the big financial institutions and I can guarantee not everyone will have the funds free to buy $4000 + Bitcoin but they will turn to the Altcoins that are mere cents so this could be the biggest Altcoin season we will ever see.
But this doesn't mean Bitcoin won't see some monumental gains and the Bitcoin name will not be going anytime soon.
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