BTC Dominance >50%: What It Means for Your Altcoins?!
Hello friends,
Just wanted to share that Bitcoin (BTC) is taking over the market again!
I've talked before about how when BTC takes more than half of the market (50% dominance), it's usually not a great time for other cryptocurrencies (altcoins).
You can see what I said here:
When BTC's share is under 50%, altcoins often do well, and you might see them growing in value, This is what many call "Alt Season"
But when BTC goes over that 50% critical level, it's a sign to be careful with altcoins.
Looking at the Renko chart here, which cuts out the noise and shows support and resistance really clear, Bitcoin's at 54%, That's a resistance point, If we break past this, 58% could be next. And if that breaks, we might aim for a peak around 65%.
Here's what could happen:
If your altcoin is strong, it might still grow, but just as much as BTC does.
If your altcoin isn't that strong, it might not grow much or could even lose value compared to BTC.
Right now, we're above the 50% critical level, which means BTC is leading the way.
If you're holding altcoins, it's a good idea to look at how strong they are.
You might want to stick with BTC for a while if your altcoins aren't doing great.
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NFA
DYOR
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Best of luck!
Just wanted to share that Bitcoin (BTC) is taking over the market again!
I've talked before about how when BTC takes more than half of the market (50% dominance), it's usually not a great time for other cryptocurrencies (altcoins).
You can see what I said here:
When BTC's share is under 50%, altcoins often do well, and you might see them growing in value, This is what many call "Alt Season"
But when BTC goes over that 50% critical level, it's a sign to be careful with altcoins.
Looking at the Renko chart here, which cuts out the noise and shows support and resistance really clear, Bitcoin's at 54%, That's a resistance point, If we break past this, 58% could be next. And if that breaks, we might aim for a peak around 65%.
Here's what could happen:
If your altcoin is strong, it might still grow, but just as much as BTC does.
If your altcoin isn't that strong, it might not grow much or could even lose value compared to BTC.
Right now, we're above the 50% critical level, which means BTC is leading the way.
If you're holding altcoins, it's a good idea to look at how strong they are.
You might want to stick with BTC for a while if your altcoins aren't doing great.
----------------
NFA
DYOR
----------------
Best of luck!
