BITCOIN DOMINANCE OVERBLOWN
Hello,
After further analysis we are taking the position that Bitcoin dominance is an overblown metric and does not predict price movements in other coins. As you can see in this chart, bitcoin dominance increases and decreases while price does the opposite sometimes and the same other times.
All bitcoin dominance is really saying, at least for the past few months, is that money was flowing into the crypto sphere, primarily through Bitcoin first - OR/AND, other coins were liquidated in favor of bitcoin. However, as time goes on this trend can easily reverse again, and bitcoin dominance can decrease as it has in the past while the price continues to go up. What would be a better metric than bitcoin dominance is the market capitalization of other coins relative to bitcoin. And as we can currently see, many of the tops alts have been stable while bitcoin has increased in value - meaning simply that money flowing into the crypto space began with bitcoin. But this trend can change overnight.
By no means is this financial advice. My only advice for you is to call your financial advisor. And eat more ice cream.
-MarketMotives
After further analysis we are taking the position that Bitcoin dominance is an overblown metric and does not predict price movements in other coins. As you can see in this chart, bitcoin dominance increases and decreases while price does the opposite sometimes and the same other times.
All bitcoin dominance is really saying, at least for the past few months, is that money was flowing into the crypto sphere, primarily through Bitcoin first - OR/AND, other coins were liquidated in favor of bitcoin. However, as time goes on this trend can easily reverse again, and bitcoin dominance can decrease as it has in the past while the price continues to go up. What would be a better metric than bitcoin dominance is the market capitalization of other coins relative to bitcoin. And as we can currently see, many of the tops alts have been stable while bitcoin has increased in value - meaning simply that money flowing into the crypto space began with bitcoin. But this trend can change overnight.
By no means is this financial advice. My only advice for you is to call your financial advisor. And eat more ice cream.
-MarketMotives
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