Cryptocurrency analyst Kenobi’s master presented an extensive analysis that discusses Bitcoin’s price dominance and altcoin season. In his analysis, Master Kenobi also revealed what this sudden volatility means for the market.

Where is Bitcoin price dominance heading?

In Post XMaster Kenobi stated that Bitcoin’s price dominance was supposed to start yesterday. However, the decline began 20 days earlier than expected. Cryptocurrency analyst added this. After recording three consecutive red weeks for Bitcoin advantage has entered a phase of volatility that may last for some time.

The attached analyst chart showed that the price of Bitcoin advantage experienced this phase of variability for 136 days. If history were to repeat itself, this volatility will only end on April 6 next year. Master Kenobi opined that the market is currently in the first and probably most critical stage of capital rotation from Bitcoin profits.

Once the market passes this period of capital turnover, Master Kenobi predicts that there will be a huge decline in dominance, which on the other hand can be interpreted as the beginning of altcoin season. Master Kenobi stated that even if the bull market lasts beyond April 6, this period will likely be the most prolific for most altcoins.

Master Kenobi noted that Bitcoin’s price dominance low on May 14, 2021 coincided with the cryptocurrency market’s first high during the bull run of 2021. The analyst expects a similar pattern to unfold this time. Meanwhile, the analyst pointed out that the bottom of the dominance may occur at the beginning of March, not on April 6.

From the perspective of Bitcoin halving

Master Kenobi also used Bitcoin halving date as a reference point to prove that Bitcoin price dominance can change according to these schedules. He noted that in the previous cycle, there was a brief gap (four days) between Bitcoin’s halving anniversary on May 11 and its first significant dominance on May 15.

As such, the analyst noted that the timeline for the bottom of Bitcoin’s price dominance (which would also mark a peak for the cryptocurrency market) could extend beyond April 20 to April 23, 2025. Master Kenobi cautioned that the exact date cannot be determined at this time market peak.

However, he believes that as time passes, it is likely that he will be able to determine the start date of the first phase with greater precision bull market will end.

At the time of writing, Bitcoin is trading at $100,300, down over the last 24 hours, and its dominance is 55.13%, according to data from CoinMarketCap.

Featured image created with Dall.E, chart from Tradingview.com