Hi, today we are going to look at the Bitcoin Dominance chart.
Bitcoin still on track of two major resistances at the dominance chart, showing points of possible money flowing out of Bitcoin into Altcoins. The possible end of this outflow could be reached at the uptrend of this chart highlighted in red on vertical.
Thank you for reading, leave your comments if you liked.
Few alts are going to survive this bear market. Most of them were only created for the purpose of making their developers wealthy. In other words, most of them are scams.
kardia
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If we are lucky, 90% of altcoins will suddenly die. Then that money can be pumped into coins/tokens which are legit.
pkb6698
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Hi. I am seeking advice from many famous traders. I think that if BTC reach the last peak in 2017 before 2020 Halving, there will be possibility that the four-year cycles of BTC is likely to change to three-year. What do you think, your precious opinion is a great help to many people.
Not meant to be rude but I think, fundamental reasons outdo this kind of TA atm. Why should there be an Alt season?
Hardly anyone cares for small projects besides, let's say, the top 15 coins/tokens. You can clearly see that by their ridiculously low trading volumes.
In my opinion, Bitcoin dominance really comes from it's usage as a store of value and long term investment asset; that's exactly what people are looking for right now because of a fully blown up stock market, housing market, wars and hyperinflations all around the world.
You saw in the parabolic rise of BTC from 3k to 14k that TA didn't play too much of a role since BTC broke all resistance levels within minutes. Almost no technical analyst, me included, had such a rise on their radars because it was against a lot of rules of TA.
But of course this is only my humble opinion and the way I see this market :) stay safe
asdasadsadsadsda
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Bitcoin formed a big bull flag / correction is over