Bitcoin Dominance May Be Tipping in Favor of Altcoins, Market Strategist Says

Bitcoin's dominance in the cryptocurrency market and the potential for altcoins to outperform in the upcoming bull market were the focal points

A recent conversation between Austin Arnold, Co-host of Altcoin Daily, and Gareth Soloway, Chief Market Strategist at VerifiedInvesting.com, centered on bitcoin’s dominance in the cryptocurrency market and the potential for altcoins to outshine the apex coin in the upcoming bull market.

During the conversation, Arnold posed a question that is particularly relevant to altcoin traders: "Looking at bitcoin dominance, do you have any insights on when altcoins might outperform bitcoin?"

In response, Soloway offered his analysis by examining the bitcoin dominance chart. "We see bitcoin hovering in here," he noted. Describing a "beautiful parallel" where "the highs and the lows are marked," Soloway suggested that "the altcoins are still going to outperform bitcoin in the near term," which would "bring bitcoin dominance down."

Delving deeper into his technical approach, Soloway explained, "I'm just playing as a technical trader, using this parallel to say when to buy alts and when to exit alts and buy bitcoin." This strategy essentially utilizes historical patterns and chart analysis to navigate the inherently volatile crypto market.

Shifting the focus to ethereum, Arnold asked, "If ... that perfect storm happens and maybe ethereum outperforms bitcoin, what's your outlook for 2025 for ethereum?"

Highlighting that ethereum has been "rallying up into this little level," Soloway pointed out that if it can "get through anywhere between $3,500 and $3,700, then I think the road is much clearer and it could take off."

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Regarding whether a "2x" is reasonable in a bull market, Soloway stated, "It absolutely is reasonable." Suggesting that ethereum could "go up to about $7,500," he indicated a significant potential upside. However, expressing some trepidation, Soloway noted, "It does make me a little bit nervous that ethereum has underperformed as much as it has," and questioned whether "Solana is eating some of its lunch."

As the discussion concluded, Soloway emphasized the role of competition in the market. "If there's competition... that can happen with ethereum versus bitcoin is the pure play of digital gold," he said, highlighting bitcoin as a hedge "against fiat."