The monthly MACD of BTC dominance has cross down. BTC must go up before the end of the month to uncross the MACD. Currently dominance is near weekly support, if that breaks we can see BTC dominance at 10% supposing that the downward wave from 100% is an ABC 1 to 1 correction. at 10% BTC will be forgotten and some alt will replace it.
Or it's a bullflag, dollar rises, market dumps, and BTC goes to 85% dominance. Interesting times.
nagihatoum
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@BullWick, dominance is the share btc gets from money put into crypto, all cryptos will go up when market dumps and dollar rise but how it is distributed makes a difference. The monthly MACD is almost impossible to change and btc.d will be in a downtrend for years just like in the first leg down from 100% dominance. It means people will be more interested in other cryptos to invest and use.
BullWick
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@nagihatoum, You misunderstood what I meant. Dollar is falling now, so all commodities are rising. but if dollar goes up, all commodities--gold, silver, stocks, crypto--will tank. When the market tanks, alts bleed more than btc and btc.d goes up. This is definitely the less likely scenario, but it is the one bears are betting on. I hope they are wrong, but if market tanks, btc.d will fly back up.
nagihatoum
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@BullWick, a little pain for btc now is good for its future otherwise sxp or link will be the next bitcoin.
@averkieskila, the problem is that you are opinionated while I don't hold an opinion, I follow TA. No reason to buy your shitcoin even if it is alts season when you can buy link, for example, that will be valued at $800 in the future.
ssari
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Surely not that low.
nagihatoum
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@ssari, As low as the MACD will take it, the momentum of montlhy MACD is tremendous, nearly impossible to turn around. There ought to be a very big dump this month to save btc from losing its dominance.