The dominance of cryptocurrencies, excluding Bitcoin and other top ten cryptocurrencies, currently stands at 9.70%. At the start of the year, it was about 13.40% and peaked in late March. However, since April 1, this dominance has been declining. Despite this, the article suggests a potential bull run led by altcoins in 2024.
The article highlights that although the current position looks bleak, there is a glimmer of hope for altcoins to dominate the market soon. The cryptocurrency market is known for its volatility and unexpected turns.
Despite the decline, experts believe that the upcoming market cycle could witness a significant surge in the value of altcoins, thereby leading to a potential bull run in 2024. This sentiment is backed by various factors including market trends, investor interest, and technological advancements in the blockchain sector.
