Btc market dominance

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). Why is There an Option to Include/Disable Ethereum? BTC dominance is about to make a move. Lets see if it can fall to around 50%, which is in confluence with the % Fib retracement and previous weekly support/resistance levels. It is also touching the upper trendline which acts as a resistance for now and lets . Cryptocurrency combined market cap charts, bitcoin dominance charts, and more.

Btc market dominance

Bitcoin Dominance Index Chart — TradingView

But don't be discouraged, as long as your alt coins keep going up against the dollar, you are winning BTC dominance is at supply zone, previously many times it rejected frm same zone. Anyone that holds the majority of their cryptocurrency portfolio in Alts ought to be looking at this chart. Not even going to do any analysis, the result is already in.

At this point, it could be the bottom for Alts, but it is hard to hold on to almost anything but BTC knowing that your investment performance is being slowly eaten away. 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 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 By the end of this, you will know exactly where the market is going next and how to capitalize on it.

Decreasing dominance simply means that Bitcoin does not take up as much as the market capitalization of the cryptocurrency market as it once did. With the majority of initial coin offerings ICOs being issued in , it makes complete sense why BTC dominance is decreasing.

But why did it increase from If BTC dominance was decreasing when people were buying all the new altcoins, then why did it starting increasing again? Because people started selling and converting their altcoins back to Bitcoin! And I mean literally everyone was talking about Bitcoin when it was rallying and doubling, tripling, quadrupling its value within a week.

Because of the fear of missing out FOMO on the gains that they heard stories about on the news, everyone bought in. And, of course, since the vast majority got their information here, they were aware of pretty much only Bitcoin, since it was the first and biggest cryptocurrency by far; thus, the digital asset that the focus and limelight were on.

And so after Bitcoin dominance originally declined because it had to share the market with the new altcoins, it then increased sharply when the masses began creating addresses and buying solely Bitcoin. People heard that it was possible to become a millionaire within a year — heck, even a few months! And so everyone was sold on this idea and the masses invested.

And when this happened, BTC dominance shot back up — almost doubling from the summer of to the end of that year. So what people decided to do was to use their Bitcoin earnings to invest in altcoins.

They figured that if they could leverage their BTC gains by converting their highly-valued Bitcoin to a low or even micro-cap altcoin, said altcoin could explode in price and they could become very, very rich. And so, of course, BTC dominance sharply declined once again, as the people who had Bitcoin sold it off in exchange for another cryptocurrency.

When this happened at the end of and the beginning of , the price of Bitcoin came down as quickly as it went up because the money that came in to inflate the price was quickly coming out. And this increased FUD — fear, uncertainty, and doubt. Now that we know how BTC dominance affects the markets , how do we take advantage of this knowledge?

You must understand that the trend I just showed you — what happened in — is a trend. All we need for Bitcoin to rally again is some sort of catalyst to get people and the media talking once more. When this happens, people will buy into Bitcoin again, and the price and dominance will both rise.

Which will make Bitcoin dominance decrease and the price to be readjusted once more — yet, at a higher level than before the rally. Then, with this increased value of Bitcoin at its peak, buy into the altcoins you believe will rally. Then, as the altcoins rise and BTC dominance decreases , you can choose to cash out , HODL, or convert back to Bitcoin when you have made a sufficient amount of profits. And if you are able to use this knowledge to be one step ahead of the herd, then you, my friend, are laughing straight to the bank.

Real Bitcoin Dominance Index Bitcoin Dominance Graph, Chart & Trends

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). Why is There an Option to Include/Disable Ethereum? BTC dominance is about to make a move. Lets see if it can fall to around 50%, which is in confluence with the % Fib retracement and previous weekly support/resistance levels. It is also touching the upper trendline which acts as a resistance for now and lets . Oct 05,  · BTC dominance is the percentage of the total cryptocurrency market capitalization that Bitcoin takes up at any given point in time. But what exactly does this mean? You have probably seen this percentage while you are on Coinmarketcap. Tags:Best way to trade bitcoin in canada, Bitcoin trading margin, Bitfinex bitcoin deposit time, Bitcoin market making bot, Litecoin btc markets

2 thoughts on “Btc market dominance

  • 17.02.2020 at 16:26
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    In my opinion, it is a false way.

    Reply
  • 20.02.2020 at 02:30
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    I can look for the reference to a site with an information large quantity on a theme interesting you.

    Reply

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