Although the price of Bitcoin is currently close to $94,000, the prices of altcoins remain at the bottom. However, when the price of Bitcoin was below $20,000, the prices of altcoins were not as low as they are now. Despite the current price of Bitcoin, the prices of altcoins are creating all-time lows every day. Although we think that the increase in the price of Bitcoin is very good for altcoins. But at present, it is seen that despite the high price of Bitcoin, the prices of altcoins are very low. And the current situation has put a lot of worry on the foreheads of investors. So at this moment, many investors are very worried about their coins. Of course, it is not unusual to worry. Because most people's portfolios are down by 50 to 70 percent.
But what I am discussing today is that if the price of Bitcoin increases, the price of altcoins will not increase. Because we have seen in the past few days that the price of Bitcoin is increasing, while the prices of other coins have become bloody red and each coin is stuck at the bottom. It is really sad that Bitcoin is going up and other coins are going down and disappearing. Even sometimes it is seen that if Bitcoin increases by 10 percent, the altcoins increase nominally, and it is seen that when Bitcoin decreases by one percent, the prices of other coins decrease by up to 10%. It is really unfortunate that when Bitcoin increases, the coins increase slightly nominally, and when Bitcoin decreases, the other coins decrease by a huge amount. Of course, there are some reasons behind this.
When the price of Bitcoin increases while the price of other coins decreases, one of the reasons behind this is Bitcoin dominance. Currently, there is no negative news in the market, but the prices of the coins are very low. The main reason behind this is Bitcoin dominance. Because Bitcoin dominance has been increasing continuously for a long time. And that is why despite the increase in Bitcoin dominance, the prices of other coins are decreasing. So currently, I think that if Bitcoin dominance does not decrease, we will never see an alt season. Currently, Bitcoin dominance is around 64 percent. If it does not fall drastically from here, then no matter how much the price of Bitcoin increases, we will not see an alt season. Although there is no negative news and good news is coming to the market and investment is increasing, despite all this, if Bitcoin dominance does not decrease, then I do not think we will see an alt season. So if we want to see the Alt Season, we definitely have to look at Bitcoin dominance.
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