Bitcoin halving is estimated to occur on April 19. Bitcoin price rally has pushed major altcoins to their new all-time high in 2024, or close to their top from November 2021. BTC dominance has shrunk significantly within 12 to 18 months after the halving, paving the way for capital rotation and inflow to altcoins in previous cycles. Bitcoin ’s halving event, which is set to occur on April 19, could become the catalyst of an extended price rally for altcoins.
Traders’ attention is likely to shift from the largest cryptocurrency to alternative assets that are considered more speculative than Bitcoin itself, categories like meme coins , or gaming, NFT, metaverse tokens. Bitcoin dominance and altcoin market cap pre and post-halving Bitcoin dominance has taken a hit in the months leading to the second and third halving event, when considering a timeframe of nine to twelve months.
Source: Digital Coin News (digitalcoinnews.net)
Cryptocurrencies
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