Opinion: Bitcoin's market dominance is declining, but it does not mean that the "altcoin season" is coming

Odaily News Bitcoin's dominance in the cryptocurrency market has declined recently, and analysts point out that this does not mean that the "altcoin season" is coming. Zach Pandl, head of Grayscale Research, said that Bitcoin's dominance may rise when the market focuses on macroeconomic instability and risks facing the US dollar, while Bitcoin's dominance may decline when the market focuses on various applications of blockchain technology and innovations in the encryption field.
Zach Pandl added: "In the next 9 to 12 months, Bitcoin's dominance is more likely to stabilize at around 60% to 70% of the overall market rather than decline sharply. In the next approximately 9 to 12 months, Bitcoin's market share is more likely to stabilize between 60% and 70% of the overall crypto market rather than decline sharply. This judgment is not easy because Bitcoin and altcoins each have different favorable factors that may play a role. From a macro perspective, we are bullish on Bitcoin; from a technological development and user adoption perspective, we are also bullish on altcoins. My basic assumption is that Bitcoin's dominance rate will stabilize from now on." (Decrypt)