Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network. Although other cryptocurrencies have come before, Bitcoin is the first decentralized cryptocurrency - Its reputation has spawned copies and evolution in the space. The dominance of a coin resembles the market cap share of the whole crypto market. Especially for Bitcoin, we think that a rise in Bitcoin dominance is caused by a fear of (and thus a reduction of) too speculative alt-coin investments, since Bitcoin is becoming more and more the safe haven of crypto. Australia's premier secure cryptocurrency & Bitcoin exchange. Buy, sell and trade Bitcoin (BTC), Ethereum (ETH), XRP and more with AUD today.
Btc market cryptoBitcoin Dominance Index Chart — TradingView
Bitcoin's dominance has tested the Bitcoin absorbed all the liquidity of the market during its rally. Christmas holidays are coming and traders in the stock market prefer to fix their positions. In case if big players are fixing positions on BTC, the nearest support level is at the price values of Bitcoin dominance touched On the weekly chart, Bitcoin Dominance completed the Elliott wave pattern and now the ABC correction wave is going on. The B wave is completed with a Some Elliott Wave for you.
I believe we'll begin to see a significant pullback here now, which will result in the strengthening of the altcoins in Q1 Inversely i've linked a chart to Altcoin dominance below which has just seen a third touch on a long term monthly trend line which gives me added confluence for Finger Crossed. Anyone that bought the dip on Alts, very ballsy! Hat's off to you if it work out. As bitcoin dominance is going up for past few weeks , now looks its a time for a big pull back and give alts to grow again.
Prev Next. Tags: bitcoin , crypto. For updates and exclusive offers enter your email below. Trade Crypto expert Sydney Ifergan joins the advisory board of DigiByte DigiByte Foundation has recently roped in crypto pundit Sydney Ifergan as the marketing manager of the blockchain group.
Bitcoinist 5 hours ago. Nick Chong 5 hours ago. Yashu Gola 6 hours ago. I accept I decline.