The market dominance of bitcoin is at a 2019 high having reached the 2018 highs this week. Here is the bitcoin dominance btc d chart it has been going on a massive run.
When dollars flow into altcoins they move a lot faster than in bitcoin because of its large market cap.
Bitcoin dominance vs dollar. Related reading analyst. The alt market dominance is past its 2018 lows approaching the 2017 levels. Green higher bitcoin altcoins grow slow consolidate or correct.
Interestingly a deeper review of the dxy dollar currency index s relationship with altcoins has uncovered a bizarre correlation between btc dominance and the dollar itself. Sidelined capital enough to push bitcoin to 1 trillion market cap. With the rsi breaking over 70 000 it has completed a cup formation a relief consolidation is expected.
And yet these rates are rising and there is reason to believe that bitcoin hunting has deeper roots. Bitcoin price is nearly trading at its former all time high and at a price point that feels unreachable for many to own a full coin interest has again turned toward altcoins. Bitcoin dominance chart update btc dominance now 64 58 as i predicted it will fall so finnaly target had been achieved.
Cryptocurrencies are highly volatile due to their scarce supply yet low liquidity and due to valuations being driven primarily by speculation. Now resistance is being faced at the 1 618 fib. Red bitcoin retraces altcoins boom.
Have a good day. We have parabolic growth which is marked here with a blue arrow. That all crypto influencers and channels told you to exit from altcoins but i single told you to enter.
I told you to enter in altcoins when dominance was 71 so now almost 6 dominance down. This one is hard to sustain. Hope you understand very well.
Bitcoin price is nearly trading at its former all time high and at a price point that feels unreachable for many to own a full coin interest has again turned toward altcoins. Btc dominance has sunk as a result and at the same time the dollar is breaking down from support. As well as bitcoin has done altcoins have outperformed the top crypto asset prompting another intraday fall in dominance.
Btc dominance has sunk as a result and at the same time the dollar is breaking down from support. High up more up higher up. In a recent survey only 3 of baby boomers said they owned cryptocurrencies compared to 27 of millennials.
There is a. The equilibrium of the two market dominance markers is close to be achieved and since april 2017 it has been working in favor. It comes at a turning point for the dollar.