Bitcoin Dominance is Increasing. This statement is echoing in the crypto space now. But what is it and is the Alt Season Over?
Bitcoin Dominance is the relative market capitalization, i.e. comparing the total supply of circulating tokens multiplied by the current price against the price of fifteen cryptocurrencies.
What is Alt Season?
If 75% of the Top 50 coins performed better than Bitcoin over the last season (90 days) it is Altcoin Season.
Is it an Altcoin Month?
If 75% of the Top 50 coins performed better than Bitcoin over the last 30 days it is Altcoin Month.
In the above chart three (3) things can be clearly identified:
1. BTC Dominance is Increasing.
2. BTC Volumes are Decreasing
3. Inverse Price Action against ETH and LTC (strong correlation!!)
What can we extrapolate?
If, the BTC Dominance keeps increasing the prices of AltCoins will follow a downward trajectory.
What can impact Bitcoin Dominance?
BTC volumes need to hike up for BTC to decrease.
Is the Alt Season Over?
NO, we are still in Alt Season.
It is Altcoin Month?
NO, it's BTC month.
Altcoins are losing the battle but, in the end, they will Win the War!!
Keeping a close eye on BTC volumes is imperative. The moment we see a breakout in volumes from the average trend line BTC.D will start to decline.
Do share your comments, feedback, and opinion.
Bitcoin Dominance is the relative market capitalization, i.e. comparing the total supply of circulating tokens multiplied by the current price against the price of fifteen cryptocurrencies.
What is Alt Season?
If 75% of the Top 50 coins performed better than Bitcoin over the last season (90 days) it is Altcoin Season.
Is it an Altcoin Month?
If 75% of the Top 50 coins performed better than Bitcoin over the last 30 days it is Altcoin Month.
In the above chart three (3) things can be clearly identified:
1. BTC Dominance is Increasing.
2. BTC Volumes are Decreasing
3. Inverse Price Action against ETH and LTC (strong correlation!!)
What can we extrapolate?
If, the BTC Dominance keeps increasing the prices of AltCoins will follow a downward trajectory.
What can impact Bitcoin Dominance?
BTC volumes need to hike up for BTC to decrease.
Is the Alt Season Over?
NO, we are still in Alt Season.
It is Altcoin Month?
NO, it's BTC month.
Altcoins are losing the battle but, in the end, they will Win the War!!
Keeping a close eye on BTC volumes is imperative. The moment we see a breakout in volumes from the average trend line BTC.D will start to decline.
Do share your comments, feedback, and opinion.