The bitcoin price is looking very bullish and there is higher possibility that dominance rate will increase. Since this year Bitcoin rate has been performing very well with no signs of it coming down anytime this year. As at the time of writing this post, dominance rate is standing around 59.80%. which is very high for altcoins to pump.
Having said that, I am of the opinion that despite the current Bitcoin up trends movements, there are still strong demands
for btc, with no much supply going into the market. Do you think altcoins season is still likely to happen this year?
To be honest, it's difficult to say or predict, it is no longer news that the current bull run is driven by government and large institutions buying into bitcoin, with the help of Trump (a bitcoin enthusiasts) winning the US presidential election, for all this bodies coming into crypto, bitcoin has remained their only center of attraction, none is willing to put money into alternative cryptocurrencies, and this is the reason why we see bitcoin going up with its market dominance increasing, while Altcoins relatively stable or going down in prices.
So far, it's hard to say if there is going to be an Altcoin bull run this season, I believe we can only know as from February next year when Trump already is in office as the US president, until then, I believe it's not bad to keep accumulating just incase.