Will ALTCOINS Die Now? The MOST Interesting Chart - Must See
I want to share this chart with you. Nobody is really paying attention to this, but I will! This chart is revealing a truth nobody is talking about.
This is the Bitcoin Dominance Chart. BTC Dominance is telling us, how big a share Bitcoin represents of the Total Global Market Cap. I follow this every day, and update My Family about this, to spot any changes in these Macro Trends, so we know where our focus should be at.
In the beginning of this year our Family focus was on Altcoins, because I saw that altcoins were doing better than Bitcoin. So we made a lot of money on that in January and February.
But since April Bitcoin has just fared better. And right now it seems like it will not stop. We are in ascending triangle, that most likely will take us to almost 90%(!!). Yes, 87.27% on this chart to be precise!
Consequences
This will mean, that Ethereum, which is 2nd largest coin, measurred on Marketcap, will take a massive hit. ETH right now represents around 10% and will drop hard. Ripple with 5% right now, will feel it, and the same with Bitcoin Cash, Litecoin, EOS, Bincance Coin, Tron, BSV etc.
What I have shown you here is just pure facts based on data. That is what this chart is telling us. This chart is also asking a lot of questions, like: Will there be no Altcoin season anymore, and will we only see a few altcoins survive this massacre?!
Please remember to give a LIKE, and I also want to hear you guys, what you think will happen in the future with Altcoins. Lets get a healthy debate going.
D4 Loves You <3
This is the Bitcoin Dominance Chart. BTC Dominance is telling us, how big a share Bitcoin represents of the Total Global Market Cap. I follow this every day, and update My Family about this, to spot any changes in these Macro Trends, so we know where our focus should be at.
In the beginning of this year our Family focus was on Altcoins, because I saw that altcoins were doing better than Bitcoin. So we made a lot of money on that in January and February.
But since April Bitcoin has just fared better. And right now it seems like it will not stop. We are in ascending triangle, that most likely will take us to almost 90%(!!). Yes, 87.27% on this chart to be precise!
Consequences
This will mean, that Ethereum, which is 2nd largest coin, measurred on Marketcap, will take a massive hit. ETH right now represents around 10% and will drop hard. Ripple with 5% right now, will feel it, and the same with Bitcoin Cash, Litecoin, EOS, Bincance Coin, Tron, BSV etc.
What I have shown you here is just pure facts based on data. That is what this chart is telling us. This chart is also asking a lot of questions, like: Will there be no Altcoin season anymore, and will we only see a few altcoins survive this massacre?!
Please remember to give a LIKE, and I also want to hear you guys, what you think will happen in the future with Altcoins. Lets get a healthy debate going.
D4 Loves You <3
Comment:
This is a really good example on one of the altcoins, which probably will suffer. This is KMD, Komodo. It had a really good run lately, but if we look closer it looks more than just a normal ABC-correction, which hereafter will go lower.
Comment:
And BOOM, KMD are dropping as expected. That was a 5th Wave Ending Diagonal on the C-wave.