{"id":232964,"date":"2021-04-22T11:45:08","date_gmt":"2021-04-22T08:45:08","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-dominance-is-about-to-drop-below-50-for-the-first-time-in-3-years\/"},"modified":"2021-04-22T11:45:08","modified_gmt":"2021-04-22T08:45:08","slug":"bitcoin-dominance-is-about-to-drop-below-50-for-the-first-time-in-3-years","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-dominance-is-about-to-drop-below-50-for-the-first-time-in-3-years\/","title":{"rendered":"#Bitcoin dominance is about to drop below 50% for the first time in 3 years"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a4122d4e3b43\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a4122d4e3b43\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-dominance-is-about-to-drop-below-50-for-the-first-time-in-3-years\/#Market_breaks_Dogecoins_spell\" >Market breaks Dogecoin&#8217;s spell<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#Bitcoin dominance is about to drop below 50% for the first time in 3 years<\/strong>&#8221;<\/p>\n<p style=\"float:right;margin:0 0 10px 15px;width:240px\"><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDQvYjAwNjY1OTEtYjgwZC00MzViLWIyYTEtYThjZDBjOWUwMjU2LmpwZw==.jpg\" class=\"type:primaryImage\"><\/p>\n<pre><code>                A weakening Bitcoin presence could give altcoins the moonshot they have waited for for three years.\n                &lt;p&gt;Bitcoin (BTC) revisited recent lows near $52,000 on April 22 as sustained weakness continued for the largest cryptocurrency.&lt;\/p&gt;&lt;figure&gt;&lt;img src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-04\/1692231e-445a-459d-91d9-224c1f0152f0.png\" \/&gt;&lt;figcaption style=\"text-align: center\"&gt;&lt;em&gt;BTC\/USD 1-hour candle chart (Bitstamp). Source: Tradingview&lt;\/em&gt;&lt;\/figcaption&gt;&lt;\/figure&gt;&lt;h2&gt;Traders await altcoin \"magic\"&lt;\/h2&gt;&lt;p&gt;Cointelegraph Markets Pro and &lt;a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\"&gt;Tradingview&lt;\/a&gt;\u00a0revealed a lackluster day for BTC traders as BTC\/USD briefly dipped below $53,000 before stabilizing around $1,000 higher.\u00a0\n<\/code><\/pre>\n<p>The move came as Bitcoin was about to lose its market cap dominance supremacy to altcoins in what traditionally marks the &#8220;real&#8221; start of &#8220;alt season.&#8221;<\/p>\n<p>Charts from on-chain monitoring resource <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coinmarketcap.com\/charts\/\">CoinMarketCap<\/a> showed that as of Thursday, Bitcoin&#8217;s share of the overall cryptocurrency market cap stood at just 50.1%.<\/p>\n<p>Having decreased sharply this year despite its own price gains, Bitcoin&#8217;s market cap share versus altcoins looked set to break through support which has held for over three years.<\/p>\n<p>Looking at historical behavior, each time Bitcoin loses the 50% mark, altcoins rapidly move in to pick up the slack, often led by Ether (ETH).<\/p>\n<p>The reshuffling thus sparks an altcoin run which truly fits the de<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">script<\/a>ion of &#8220;alt season&#8221; \u2014 rapid gains to a peak, followed by a cooling-off period as Bitcoin regains some lost ground. This was the case in both mid 2017 and early 2018.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-04\/bec2f495-b4a5-44e4-b78b-7003c440d7b6.png\" \/><figcaption style=\"text-align: center\"><em>Cryptocurrency market cap share chart. Source: CoinMarketCap<\/em><\/figcaption><\/figure>\n<p>Should history repeat itself, it would be music to the ears of altcoin investors, many of whom have long claimed that &#8220;alt season&#8221; is already underway but has yet to show its true colors.<\/p>\n<p>A race to the top this time around could surprise even them, meanwhile, as many altcoins have already put in unbelievable performances in 2021.<\/p>\n<p>&#8220;BTC dominance 51.6%. The magic starts when 50% breaks,&#8221; popular <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> account CryptoBull <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoBull\/status\/1383105009504620550\">summarized<\/a> last week.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Market_breaks_Dogecoins_spell\"><\/span>Market breaks Dogecoin&#8217;s spell<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>At the time of writing, Ether in particular was showing no signs of weakness in the face of fresh wobbles for BTC\/USD, gaining 6% in 24 hours to approach $2,500 once again.<\/p>\n<p>Others were less optimistic, with the top 50 cryptocurrencies mostly down on the day. <\/p>\n<p>Dogecoin (DOGE), previously the star of the show, continued its slip after hitting all-time highs of $0.44 on some exchanges. DOGE\/USD was already down 40% versus the high on Thursday.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-04\/acaa2bd2-e573-4b8f-af61-0ea17016c0b0.png\" \/><figcaption style=\"text-align: center\"><em>DOGE\/USD 1-hour candle chart (Bittrex). Source: Tradingview<\/em><\/figcaption><\/figure>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-dominance-is-about-to-drop-below-50-for-the-first-time-in-3-years\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#Bitcoin dominance is about to drop below 50% for the first time in 3 years&#8221; A weakening Bitcoin presence could give altcoins the moonshot they have waited for for three years. &lt;p&gt;Bitcoin (BTC) revisited recent lows near $52,000 on April 22 as sustained weakness continued for the largest cryptocurrency.&lt;\/p&gt;&lt;figure&gt;&lt;img src=&#8221;https:\/\/s3.cointelegraph.com\/uploads\/2021-04\/1692231e-445a-459d-91d9-224c1f0152f0.png&#8221; \/&gt;&lt;figcaption style=&#8221;text-align: center&#8221;&gt;&lt;em&gt;BTC\/USD 1-hour candle&#8230;<\/p>\n","protected":false},"author":1,"featured_media":232965,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDQvYjAwNjY1OTEtYjgwZC00MzViLWIyYTEtYThjZDBjOWUwMjU2LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-232964","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/232964","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=232964"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/232964\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/232965"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=232964"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=232964"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=232964"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}