Opinion: Bitcoins market dominance is declining, but it does not mean that the altcoin season is coming

CoinRank News: Bitcoins dominance in the cryptocurrency market has declined recently, and analysts point out that this does not mean that altcoin season is coming. Zach Pandl, head of Grayscale Research, said that Bitcoins dominance may rise when the market focuses on macroeconomic instability and risks facing the US dollar; while Bitcoins dominance may decline when the market focuses on various applications of blockchain technology and innovations in the crypto field. Zach Pandl added: In the next 9 to 12 months, Bitcoins dominance is more likely to stabilize at around 60% to 70% of the overall market rather than a sharp decline. In the next approximately 9 to 12 months, Bitcoins market share is more likely to stabilize between 60% and 70% of the overall crypto market rather than a sharp decline. This judgment is not easy, because Bitcoin and altcoins each have different positive factors that may play a role. From a macro perspective, we are bullish on Bitcoin; and from the perspective of technological development and user adoption, we are equally bullish on altcoins. My basic assumption is that Bitcoins dominance rate will stabilize from now on. (Decrypt)