Analysis: Bitcoin dominates stronger and stronger, and the price of altcoin plunges relative to Bitcoin

According to Messari news on August 14, although there is hopeless hope for the surge in the "cotton currency season", most of the altcoins remain stagnant, and Bitcoin's dominance is getting stronger and stronger, currently 71%. A chart created by analyst Willy Woo perfectly captures the brutal dominance of Bitcoin over the past seven months. The chart tracks the price of the altcoin at the BTC price and places the bitcoin/dollar chart at the top for reference. The general trend shows that the price of altcoin has plummeted against bitcoin. Especially in April 2019, the entire altcoin market began to decline at the moment when Bitcoin soared. Traders seem to withdraw money from the altcoin and instead allocate it to bitcoin. Ark investment crypto analyst Yassine Elmandjra portrays a picture similar to Willy Woo.