PANews reported on May 17th that according to Decrypt, Bitcoin's dominance in the cryptocurrency market has recently declined. Analysts point out that this does not mean the "Altcoin season" is imminent. Grayscale Research Director Zach Pandl stated that Bitcoin's dominance may rise when the market focuses on macroeconomic instability and risks facing the US dollar; while it may decline when the market focuses on various blockchain technology applications and innovations in the crypto field. Zach Pandl added that from a macro perspective, he is bullish on Bitcoin; and from the perspective of technological development and user adoption, he is equally optimistic about Altcoins.
