Altcoin bull market: Bitcoin may have to surpass $80,000

An analysis has emerged that a bull market for altcoins (cryptocurrencies other than Bitcoin) will be difficult to form until Bitcoin surpasses the $80,000 mark.
According to reports, Hashiki Capital said in an independent report that "even if Bitcoin breaks through its all-time high, it seems unlikely that an altcoin season will come anytime soon."
They said, "However, if Bitcoin exceeds the high of $80,000 (about 12 million yen), we can expect an altcoin season."
"For altcoin season to happen, Bitcoin dominance must remain at around 62-70%," he added.
"Bitcoin dominance is currently at 58.7%, the highest level in over three years and six months," he explained.