The Bitcoin dominance metric shows how much of the total cryptocurrency market cap is represented by Bitcoin. Since it is the largest cryptocurrency by market cap, Bitcoin dominance is a useful metric that shows us if confidence in more speculative altcoins is growing or falling. The Real Bitcoin Dominance Index matters because there is currently no easy way to track proof-of-work coins only. As an alternative to Coin Market Cap, where all coins are shown, Bitcoin Dominance only tracks the coins that are attempting to be used as a medium of exchange (i.e. money). Here on the weekly BTC dominance chart, we can see that BTC dominance has printed a series of inverted head and shoulders patterns. Additionally, they're combining to form a massive cup and handle.
Btc market dominance graphBitcoin vs Altcoin Market Dominance. for CRYPTOCAP:BTC.D by InvestingScope — TradingView
The Bitcoin dominance metric shows how much of the total cryptocurrency market cap is represented by Bitcoin. Since it is the largest cryptocurrency by market cap, Bitcoin dominance is a useful metric that shows us if confidence in more speculative altcoins is growing or falling.
We calculate Bitcoin dominance by dividing the total cryptocurrency market cap with the market cap of Bitcoin. We calculate the total cryptocurrency volume by adding together the volume expressed in USD from all of the pairs on all of the exchanges listed on CoinCodex.
The total volume shows us the activity of the cryptocurrency market — usually, trading volumes soar during large price swings as traders seek to capitalize on big price movements. Total Market Cap. Total Volume. Bitcoin Dominance. Gainers vs. This is partly to do with Hello, traders! 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 With the RSI breaking over The alt market dominance is past its Lows approaching the levels.
The equilibrium of the two market dominance markers is close to be achieved and since April it has been working in favor of the alt market and there is no reason to expect something different this time. We expect Bitcoin to slow down its aggressive rise for the following 1 - 2 months while the Alt coins gain relatively. High quality portfolio management, asset allocation with excellent risk management. SatomiZa iarrow. Watching your chart right now.