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Topic: Dominance may be down, but a key bullish sign for BTC! - page 2. (Read 331 times)

sr. member
Activity: 966
Merit: 274
there is no such thing as bitcoin dominance rate, there is only market  capitalization of bitcoin versus fake market capitalization of nearly 2000 shitcoins that have been creating a ton of new coins every second. it doesn't show anything about the price or the future of it either. people started looking at market cap as a factor of dominance only because a low quality website called coinmarketcap.com used this term and in 2017 the shitcoin pumpers used this to fool newbies into buying their shitcoin. otherwise it has always been a meaningless percentage.

For me, there is really a relationship between the market capitalization and dominance that we have now on the market. Clearly we can that if there is a huge market cap for a particular cryptocurrency such as bitcoin, it also has a big impact or we can consider it as dominant in the market. How? Most of the transaction was with Bitcoin, it is also the most famous cryptocurrency and no doubt it has the biggest market capitalization today and in the future.
legendary
Activity: 3472
Merit: 10611
there is no such thing as bitcoin dominance rate, there is only market  capitalization of bitcoin versus fake market capitalization of nearly 2000 shitcoins that have been creating a ton of new coins every second. it doesn't show anything about the price or the future of it either. people started looking at market cap as a factor of dominance only because a low quality website called coinmarketcap.com used this term and in 2017 the shitcoin pumpers used this to fool newbies into buying their shitcoin. otherwise it has always been a meaningless percentage.
legendary
Activity: 3808
Merit: 1723
The dominance is not down, maybe a little. We are at the highest dominance since the crazy fomo bull market started in March 2017. The reason why it decreased a little was mostly due to XRP and Tether gaining a slight percentage.

You need to understand how it works and best is to look at 2017. Basically the dominance back then was over 80% and when the bull market started the dominance went back down because people got better gains in alts like Ethereum and Ripple. Then when BTC peaked in Dec 2017, the dominance went down again substancially because people sold BTC and bought ALTS and later on when the bear market started people basically sold ALTS for tether or fiat and pretty much the cycle will repeat again in the near future.
hero member
Activity: 2282
Merit: 659
Looking for gigs
The long-term chart for the Bitcoin dominance rate reveals weakness and suggests that the rate will fall. However, lower-term timeframes reveal a bullish pattern that indicates an upward move will transpire initially.

The Bitcoin dominance rate has been gradually decreasing since September 5, when it reached a high of 73.44 percent. This has caused numerous traders and influences to call for the beginning of “Altseason” — but, until now, the calls have all been premature.


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Well, well, well, I can't really say that this is the "altcoin" season just yet. I still believe we are in the "shitcoin" era.

I see that Bitcoin's dominance is start to decrease a bit, but it could be a bullish sign for us because of the pattern itself. It will likely go upward for sure, but I would not really count on that just yet.

I still stand with my claim that the market is unpredictable, so there is no guarantee that Bitcoin and other cryptocurrencies may have their "moments" in that specific day, week or so.

The world of crypto is full of surprises, especially unexpected pumping and dumping.
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