Bitcoin dominance has been in decline for months and nearly hit its all time low in market cap dominance %, but now that the atl coin hype cycle bubble is popping the king bitcoin has seen a 10% resurgence in dominance in the last few days. This dosen't necessarily mean that money will flow back into bitcoin which will take it to new highs but it does mean that alts will be getting crushed against the BTC pair. Good luck @meauxgreen
Alts didn't even start going up on btc pairs. They're all flat. Also, historically speaking, btc.d spike up it's only temporary, it will most definitely go down again. And if you're looking into elliot waves, rn we are just in a correction wave 4. Wave 5 will come with more downside for btc.d and room to grow for alts. What is your prediction based on? Just on a green candle after a lot of red?
PERCENTAGE AGAINST BTC SINCE JAN 1ST:
DOGE 8050%
MATIC 4000%
CAKE 5703%
LUNA 1450%
BNB 1100%
VECHAIN 750%
ADA 950%
ETH 260%
I won't even bother mentioning the meteoric rise of small cap shit coins such as SAFEMOON, FEG, SHIBU INU which were WAYYYYYYYYY higher %. YEAH TOTALLY FLAT.
Nowhere in my post did I mention elliot waves. I tagged this post as fundmental analysis. In 2018 when BTC hit it lowest % in market cap dominance it hit its then ATH of 20k. Once the correction started the dominance went from 36% back to 72%. That's becuase when all these sht coins lose 90-99% of thier value BTC loses a much lower %. The chart is to show the history of this and how we reached the same peak levels back in 2018 at the top and that BTC saw a 10% spike in cap dominance now that ETH and other alts have begun their decline.
RichardMilk
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we didnt even have an alt season lol
meauxgreen
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@Smith1108, PERCENTAGE AGAINST BTC SINCE JAN 1ST TO ATH:
DOGE 8050%
MATIC 4000%
CAKE 5703%
LUNA 1450%
BNB 1100%
VECHAIN 750%
ADA 950%
ETH 260%
I won't even bother mentioning the meteoric rise of small cap shit coins such as SAFEMOON, FEG, SHIBU INU which were WAYYYYYYYYY higher %
RichardMilk
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@meauxgreen, so what you are saying is the moved up as part of their X/BTC pair with BTC....? Thats why those coins increased in value... They did not break away from their BTC pairings....