From Twitter to Steem to anywhere crypto is discussed comes the great debate of whether or not there will be an Alt Season in this BTC bull run.
The debate is pretty heated and many ALT coins including STEEM have been hitting all-time lows each day in comparison with the Satoshi value of BTC.
So far the Bitcoin dominance is at 61% and holding strong and even gaining.
I've read lot's of articles and many debates and my best guess is that some alts will rally, but not until after BTC surpasses all-time highs.
No one wants to get out of Bitcoin right now with speculators calling for new highs in Bitcoin. Many ALT coin holders are even FOMOing out to BTC.
Once Bitcoin surpasses all time highs though, people will begin to wonder where it will peak and some will want to take profits without transferring back to fiat.
Also, once Bitcoin hits it's all-time highs again, it will hit the MSM news cycles again and people will want to find a way to get into crypto. Fearing that Bitcoin has moved too much, I believe many of them will jump into alts.
If we do have an Alt Coin Season, and I think we will, it is likely going to take a while to develop.
As I've been saying lately, ... regarding the Steem Price, it is likely to get worse before it gets better.
:) I'm just starting a conversation, I am not an expert on trading.
What do you think?
https://www.newsbtc.com/2019/07/10/altcoin-capitulation-aobituary-buy-signal/
@whatsup