Bitcoin price has been wavering around $52700 and $56.000 in the previous 24 hours. The weakening price caused the dominance index decline which went as low as 50.98%.
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When BTC loses its dominance to altcoins, then alt season begins. Statistics show that whenever this happens, altcoins began to surge at a high speed.Although Bitcoin has surpassed previous records this year, its market cap percentage now stands at its lowest mark in terms of 3 years.
Bitcoin dominance fell below 50% in February 2017. Then most investors turned to other crypto assets. In January 2018 the indicator was below 37%. Along with this, altcoins, particularly Ether and Monero surged immensely.Crypto holders are waiting to see whether this time market will go high again or no. Presently, the market cap of all cryptocurrencies stands at around $2.02 trillion. Ether has gained around 7.9% in the previous 24 hours and now trades at above $2480.