The scenario we currently see is very similar to the scenario that started in 2016.
2016
in 2016, altcoins experienced a rapid, sharp increase in price. However, at one point Bitcoin began to steal the show, reducing altcoin dominance by 70% in that same year.
2020
In 2020, altcoins also experienced a sharp increase in price, especially DeFi became very popular. The altcoin dominance rose to almost new heights. However, again, Bitcoin began to steal the show and altcoin dominance decreased by about 50%.
At the end of 2016, the Bitcoin price began to rise sharply and reached new heights in January 2017. At the end of 2020, Bitcoin started to rise very fast and saw new heights. In January 2021, Bitcoin also recently reached new heights.
Popularity
I think there will soon be a huge increase in the popularity of altcoins. Many people are now afraid to get in or have even declared altcoins dead. In my opinion this is complete nonsense. Altcoins have increased in popularity in recent years and some projects have added value nowadays. In addition, people will start investing in altcoins, because at some point they will realize that they can make even more money here than with Bitcoin.
2016
in 2016, altcoins experienced a rapid, sharp increase in price. However, at one point Bitcoin began to steal the show, reducing altcoin dominance by 70% in that same year.
2020
In 2020, altcoins also experienced a sharp increase in price, especially DeFi became very popular. The altcoin dominance rose to almost new heights. However, again, Bitcoin began to steal the show and altcoin dominance decreased by about 50%.
At the end of 2016, the Bitcoin price began to rise sharply and reached new heights in January 2017. At the end of 2020, Bitcoin started to rise very fast and saw new heights. In January 2021, Bitcoin also recently reached new heights.
Popularity
I think there will soon be a huge increase in the popularity of altcoins. Many people are now afraid to get in or have even declared altcoins dead. In my opinion this is complete nonsense. Altcoins have increased in popularity in recent years and some projects have added value nowadays. In addition, people will start investing in altcoins, because at some point they will realize that they can make even more money here than with Bitcoin.