Dominance to its lowest level in months

With the beginning of the new year and the beginning of companies opening new books for a new financial year, we hope that it will be full of goodness and optimism that pervades everyone, and that the world will have a strong economy that satisfies the needs of all residents.

Everything you wish for yourself, you should wish for others, because you do not live on this planet alone, but there are also billions of people living with you.

What you do not realize is that we live on one compound and any malfunction or defect in it will inevitably affect everyone, and you will not survive alone. Going back to talking about Bitcoin, whose price is currently about $47,300, with a weekly drop of about 6%.

But since the beginning of the year, the Bitcoin is almost fixed in place and has not moved significantly, while many other cryptocurrencies have moved, many of which have started to rise wonderfully and unexpectedly.

Among these coins are Dot, which rose by about 4%, and XLM, which also rose by about 6%, and ICP, Enjin, Wax, and other coins that rose by more than 5%, and even Ethereum began to rise by about 1%.

While Bitcoin is stable in its place and did not rise or fall, but the rise of Altcoins had a relative impact on Bitcoin, which fell BTC Dominance about 0.3% to reach 39.7%, the first time it fell below 40% in a long time.

And the question here that we ask ourselves, which we hope the answer to is also yes, will Altcoins begin to become independent from their dependence on Bitcoin, and if this year is the one in which this happens, it will be historical by all standards.

All micro-traders and investors wish that Altcoins separated from Bitcoin, as there is a clear injustice to many currencies that are active and perform well while Bitcoin goes down and that currency goes down with it.

This made many analysts say that Altcoins are not subject to analysis and that we should only analyze Bitcoin and through it we will know the direction of Altcoins, but if BTC Dominance continues to drop in this way to about 30%, I think that the dependency of cryptocurrencies on Bitcoin will end, but still We have plenty of time to do that.