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Bitcoin Dominance Likely Peaked as Altcoins Gain Traction

May 2, 2024

Founder of MNTrading, Michaël van de Poppe indicated that there might be a change in focus as Bitcoin’s dominance appears to be reaching its peak. Additionally, he mentioned that altcoins are starting to show activity in their Bitcoin pairs, suggesting a shift in interest.

Notably, Bitcoin’s dominance has decreased to 53.90% in the past week, indicating a growing interest in alternative coins.

Experienced crypto trader Matthew Hyland pointed out that Bitcoin’s dominance is decreasing, potentially signaling a decline. However, he will wait for the weekly close to confirm this suspicion.

IncomeSharks trading team noted that Bitcoin’s dominance is dropping, providing an opportunity for altcoins to take advantage, with several alts performing well recently, such as Solana (SOL), PEPE, and Dogwifhat (WIF).

With the rise of interest in alternative digital currencies, such as coins that have seen price increases like SOL, PEPE, and WIF, it raises the question of whether this trend marks a new era for altcoins, as suggested by Michaël van de Poppe.

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