{"id":29335,"date":"2022-06-08T13:25:22","date_gmt":"2022-06-08T17:25:22","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=29335"},"modified":"2022-06-08T13:29:27","modified_gmt":"2022-06-08T17:29:27","slug":"heres-how-altcoins-might-perform-in-the-near-future","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/heres-how-altcoins-might-perform-in-the-near-future\/","title":{"rendered":"Here’s How Altcoins Might Perform In Near Future"},"content":{"rendered":"\n
Despite predictions that Bitcoin will fall below $20,000,<\/a> its market domination continues to shoot up to almost 50% of the market while altcoins bleed.<\/h5>\n\n\n\n
\"Here's<\/figure>\n\n\n\n

Bitcoin currently holds a remarkable 47.33% of the cryptocurrency market, while altcoin prices have recently plummeted.<\/p>\n\n\n\n

Will Bitcoin have a 50% market share?<\/h3>\n\n\n\n

According to Project Syndicate, a trader active on TradingView, Bitcoin will continue to increase its market share. He believes Bitcoin will hit a peak of 50%, which could only further strengthen its case in the minds of the regulators. If Bitcoin proceeds to retest the 50% level, claims of supporters like Michael Saylor may be reinforced.<\/p>\n\n\n\n

Last month, the CEO of Microstrategy predicted a massive upside to Bitcoin due to a potential business shakeout due to acceleration of regulation. According to Saylor, regulation will increase the asset class's value from $1 trillion to $10 trillion.<\/p>\n\n\n\n

In the Not-So-Distant Future, Will Altcoins Continue To Bleed?<\/h3>\n\n\n\n

Project Syndicate predicted\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> that altcoins will continue to bleed until Bitcoin retests the 50% market dominance level. Altcoin prices have plummeted in recent weeks as a result of the macroeconomic crisis and last month's Terra collapse.<\/p>\n\n\n\n

The traders predict that altcoins will continue to fall until July or August. They added that it does not appear to be a good setup for altcoin traders. Bitcoin's share is expected to reach between 40 and 50% dominance levels.<\/p>\n\n\n\n

\u201cExpect Ethereum and other altcoins to bleed until we re-test 50% dominance level. Bitcoin set to flip flop between 40%-50% dominance range.\u201d<\/em><\/p><\/blockquote>\n\n\n\n

Meanwhile, Bitcoin has been fluctuating in the $29,000-$31,500<\/a> range in recent weeks. Contrary to bullish claims that the top crypto has already bottomed at roughly $29,000, historical patterns show otherwise. According to CoinMarketCap, the price of Bitcoin is $30,511, up 2.79% in the last 24 hours.<\/p>\n\n\n\n

On the other hand, the revenue generated by Bitcoin miners <\/a>has continued to decline. This is continuing even as production costs rise due to the bearish market sentiment.<\/p>\n","protected":false},"excerpt":{"rendered":"

Despite predictions that Bitcoin will fall below $20,000, its market domination continues to shoot up to almost 50% of the market while altcoins bleed. Bitcoin currently holds a remarkable 47.33% of the cryptocurrency market, while altcoin prices have recently plummeted. Will Bitcoin have a 50% market share? According to Project Syndicate, a trader active on […]<\/p>\n","protected":false},"author":32,"featured_media":29337,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-29335","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/06\/altcoins.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/29335","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=29335"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/29335\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/29337"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=29335"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=29335"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=29335"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}