New interest of Bitcoin from big institutions has been waning.
This chart right here can only happen if a new big institution/company makes a new announcement on their investment of Bitcoin.
Now, we all know the cryptocurrency world is tied to Bitcoin. If bitcoin price goes up, alts go up, if Bitcoin goes down, alts go down the hardest.
Now. There is 1 positive scenario this can play out which can lead to another rally of altcoins to the upside and the capitulation of Bitcoin dominance.
- Bitcoin starts falling to major support which is around 32k - 35k, and alts will bleed. But once bitcoin consolidates at this prices then alts can go up on their own, further decreasing the Bitcoin dominance.
Bitcoin will fall up to 37.5% marketcap dominance which was the lows of the 2018 bear market. If this support get broken then we can see the capitulation of Bitcoin and the rise of altcoins leading to a paradigm shift where altcoins will fight for the #2 spot and eventually the #1 spot of Bitcoin which was also the catalyst for the so called "Flippening"
For those unaware, the flippening is a hypothetical event in which ETH/ADA or any other major alt overtakes Bitcoin in terms of market capitalization.
1.2 Cardano $ADA will have the best ROI for the rest of the year because of the upgrades that it will be receiving. Smart contracts are out and Catalyst projects are coming out. DEXs are still under development and will have little to no fees when it comes to transactions. The Blockchain is also partnered with African leaderships in innovating through blockchain technology and Cardano is also widely accepted in Japan.
With $ADA sitting at $2.2, it is only the start of it's rally on the way to $10 and beyond.
Cardano most actively developed Blockchain in GitHub
Cardano most held crypto in Etoro
Are we going to see a "Flippening 2.0"?
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