Bitcoin dominace - page 3. | Bitcointalksearch.org

Oshosondy

legendary

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Merit: 1200

Gamble responsibly

Quote from: promise444c5 on September 19, 2023, 05:25:52 AM

In a quote of Markus Thielen(an analysts for research at Matrixport) state that Altcoins is now having shaky ground

I will say this is true. But without bitcoin ETF, altcoins have been following bitcoin price. If bitcoin increase in price, altcons follow and they also increase in price. If bitcoin decrease in price, altcoins follow and they also decrease in price. But bitcoin is better because it is less volatile than altcoins, it has more marketcap and more utility.

Bitcoin spot ETF would be one of the reasons that more people will have access to bitcoin, that is definitely true.

One thing I just do not like about altcoins is that the can be disappointing, when you expect their price to rise, they may disappoint. Also when they are falling in the bear market, their fall can lead to almost total lose of money.

SquirrelJulietGarden

hero member

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Merit: 775

Altcoins can make new bottoms from now till the end of 2023 before they can start to recover and prepare for Bitcoin bull run in 2024 after halving. Without Bitcoin bull run, altcoins will be dead coins and they will have no actual bull run in 2024.

I think it is still very risky to use your capital to buy altcoins now and rest months of this year. Bitcoin is still in a bearish market and after stucking below $30,000 some months, failed to break out of the strong resistance, and after having good recovery from $16,000 to $30,000, it's sensitive time for Bitcoin.

When Bitcoin has hiccup in this sensitive time, altcoins will not have good movements.

promise444c5

sr. member

Activity: 476

Merit: 299

Learning never stops!

Dominance
Let's talk about Bitcoin dominace, it hight time people should divert attention from altcoins not completely though

there will always be a need to but let's focus more on Bitcoin is now as it dominance hitting
49%to 51%

Currently we will be having some bull runs in the market as they are also expect to overcome the $27,400+ resistance moving the support forward to attain a new price range

According to my analysis above if there seems to be a breakout due to the current bullrun then there should be more bulls

In a quote of Markus Thielen(an analysts for research at Matrixport) state that Altcoins is now having shaky ground

Sorce : ETHNews

Quote

Thielen posited that the anticipation around ETF listings offers BTC a distinct advantage in terms of buying pressure. On the flip side, altcoins, or the plethora of cryptocurrencies other than Bitcoin, might be treading on thin ice. He drew attention to some concerning signs, such as the disconcerting sales from the now-bankrupt FTX exchange, a dwindling revenue stream for Ethereum protocols, and looming token unlocks.

The latter could potentially flood the market, as venture capitalists get the green light to offload their tokens.

Source Link: https://www.ethnews.com/bitcoins-surge-rockets-to-27400-is-30000-or-25000-next-exclusive-report-inside/

To read more, the above link serve

Topic: Bitcoin dominace - page 3. (Read 378 times)