Bitcoin Dominance Expected to Grow to 70%, Crypto Analyst Warns of Deceiving ALT/USD Charts

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For much of the year, crypto analysts have been clamoring for an alt season that promises unheard of returns across the entire space. Talk of 10x returns during the hunt for the next Bitcoin and becoming rich overnight fill social media feeds.

However, Bitcoin dominance has only grown since it broke out of the deepest depths of the bear market back in early April, kicking off a parabolic run that has yet to see any significant correction. Now, after a recent pattern break, analysts are expecting a further rise in Bitcoin dominance and warn not to be fooled by bullish ALT/USD charts that are actually being driven by Bitcoin’s strength against the dollar.

Crypto Confusion: It’s a Bull Market for Bitcoin, but a Bear Market for Altcoins
According to crypto analysts, Bitcoin dominance charts show a break above resistance that could cause BTC dominance to “run to 70% soon.”

The bearish sentiment extends into the public, who according to poll results believe that BTC dominance will rise “higher” above the current 57% dominance Bitcoin currently enjoys over the rest of the market.