The DeFi boom and an explosion of ROI across altcoins helped bring bullish sentiment back to crypto, and it helped push Bitcoin above $10,000 and hold the key level for the longest stretch ever.
But while altcoins had regained some lost ground against the most dominant cryptocurrency, BTC dominance has potentially reversed, and if closes the weekly above a key level, altcoins could be decimated throughout the end of the year and into early 2021.
BTC Dominance Closing Above Mid-Bollinger Band Could Crush Altcoins Into <span class="wpg-tooltip-term-title">Satoshi</span></h3><div class="wpg-tooltip-content">Satoshi Nakamoto is the founder and creator of bitcoin, the most popular cryptocurrency. The smallest amount of bitcoin (0.00000001) was also named after him, it is called a Satoshi. This tiny amount of bitcoin is one hundred-millionth of a bitcoin. That’s 7 zeros before the number 1! Satoshi Nakamoto is an unknown person or group of people who created bitcoin in 2009. Very little is known about Satoshi. In an online profile he claims to be a Japanese man born in 1975, but all of his software and online conversations are in perfect English.<p class="wpg-read-more"><a href="https://www.newsbtc.com/dictionary/satoshi/">» Read more</a><p></div>”>Satoshi Dust
Bitcoin price is once again flirting with resistance at $12,000, while the rest of the financial world collapses around it. Stocks are falling, gold took a small setback, and altcoins are bleeding out as investors exchange the tokens for BTC.
The capital rotation out of altcoins and back into Bitcoin could be what is behind the recent