Popular crypto analyst and trader Lark Davis says that a ‘face-melting’ altcoin bull run is in the cards for April.
In a new video, Davis tells his 267,000 YouTube subscribers that if Bitcoin’s dominance in the crypto market falls towards the 52% level, altcoins could ignite more exponential rallies.
“If Bitcoin dominance falls that far, then Ethereum is going to $3,000 and most of the large-cap cryptocurrencies will do 2-5x gains and most of the mid-cap cryptocurrencies will do 10-20x gains and all the small caps [will do] 50,100x gains. Basically, all of them will do that. So this is a very, very important indicator to be watching over the coming weeks. Bitcoin dominance is a pretty solid market indicator in terms of sentiment towards altcoins.”
According to CoinMarketCap, Bitcoin dominance has plunged from around 70% at the beginning of the year to around 55.5% at the time of writing.
The Bitcoin dominance index is the ratio between