One of the most frequently asked questions of Bitcoin and cryptocurrency investors is whether the declines seen in recent weeks will deepen further… However, according to TechDev, which has nearly 500 thousand followers on X and is known for its chart interpretations, rises are on the horizon.

“Bitcoin is losing momentum against altcoins”

Drawing attention to Bitcoin dominance in particular, the analyst stated that the chart shows a “bearish mismatch” and used the following statements:

“The bearish mismatch seen in Bitcoin dominance shows that the dominance will experience one of the biggest declines in the last 4 years. For newcomers to this world, we can say, ‘welcome to the bottom of altcoins…’ We are now in wave 2. This is the view we see in Bitcoin’s declines seen at its peak… During these periods, you hear the questions ‘What if there is no altcoin season…’. Wait until you see the 3rd wave…”

“Do you think it’s over?”

The analyst also stated that the index, also known as “OTHERS”, which excludes the top 10 cryptocurrencies and stablecoins, is at the point in 2017 and early 2020 and said, “Do you think altcoins are over? They thought so then too.”

In such charts, also known as the “bearish reversal signal-discrepancy” that TechDev shows for dominance; It is stated that the current uptrend is over. Also known as RSI and MACD, the buying zones in the indicators are now overdone and a “mismatch” occurs.