The post Why Altcoins Are Dropping? Here’s What Traders Should do Now appeared first on Coinpedia Fintech News
Famous analyst Michael van de Poppe shares his expert thoughts on the current state of the cryptocurrency market and the potential movements of altcoins. In his recent video analysis, Michael delves into Bitcoin’s dominance, Ethereum’s performance, and the outlook for various altcoins.
Bitcoin Dominance: Consolidation and Potential Shift
According to Michael, Bitcoin’s dominance has been consolidating, with a rejection at the resistance level. While the weekly timeframe indicates an upward trend, there is a possibility of a drop in Bitcoin dominance, which could result in altcoins taking over. The expert suggests that the market could be witnessing a trend shift from bullish to bearish, with Bitcoin dominance potentially dropping 3-4%.
Furthermore, Michael highlights the need for a breakthrough in the total market cap, currently facing a crucial resistance at $1.25 tri
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