The post Will Bitcoin’s Dominance Face a Decline Soon? appeared on BitcoinEthereumNews.com.

As of October 25, Bitcoin‘s market dominance has reached 59.22%, the highest mark since the bullish trend began in September 2022. Recent data indicates that this momentum persists, with the current dominance slightly adjusting to 59.16%. The pressing inquiry is how long Bitcoin can sustain this position in the market. What Does the Dominance Model Suggest? Market analysts have identified a consistent 200-day model within Bitcoin’s dominance trends. This model forecasts a decline in dominance for approximately 50 weeks, followed by a 150-week recovery phase. Following the last significant drop around December 2021, Bitcoin’s dominance has been on an upward trajectory. Is a Downward Trend on the Horizon? Currently, Bitcoin is nearing the conclusion of its 150-week growth phase, which commenced in late 2021. Experts suggest that this cycle may reach its end soon, potentially initiating a downward trend that could last until October 2025. Historical data supports the likelihood of such a correction in the upcoming weeks. Key Takeaways: Bitcoin’s market dominance is at a high of 59.22%. A forecasted decline could commence within days. Historical trends suggest a significant downward phase may last until 2025. Any drops in Bitcoin’s dominance could stimulate altcoin movements. The cryptocurrency landscape may experience shifts in activity, particularly concerning altcoins, as Bitcoin’s dominance fluctuates. Observers remain vigilant to the potential impacts of these changes. Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research. Source: https://en.bitcoinhaber.net/will-bitcoins-dominance-face-a-decline-soon

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Filed under: News - @ October 25, 2024 11:29 am