Part 2/7:
The foundation for this exploration stems from the observation that Bitcoin dominance has recently reversed, heralding a likely influx of capital into altcoins. The monthly candles show a parabolic uptrend in Bitcoin dominance, reminiscent of the dynamics observed in past bull cycles. With the previous altseason experiences, Randle suggests that historically, Bitcoin is followed by Ethereum, then finally by the altcoins, leading to significant price increases across the board.
In January 2021, Bitcoin hit a critical price discovery phase, prompting a similarly structured future for today's market, which Randle believes mirrors those patterns. All indicators suggest that the market might be on the cusp of spectacular gains, particularly for altcoins like Thorchain.