BTC Dominance is ina scary palce for ATLs
The last time BTC.D was this low was back in the beginning of September when Alt's bled against BTC through a combination of dropping USD value and BTC pumping in the beginning of October.
I see three scenarios here. 1) The market dumps again and ALT's get crushed, 2) BTC pumps leaving ALT's a current levels or even dropping a bit as money flows from ALT's to BTC, or 3) It's ALT season and BTC will break this descending triangle to the downside (ALT's pump BTC stays or keeps bleeding).
As the saying goes "the trend is your friend until the end." We've been in a down trend. BTC dominance generally goes up in a downtrend. I could be wrong of course, but I think that there's stronger probability that scenario 1 plays out at least for a few more weeks until BTC is able to turn it around and lead ALT's into a continuation of the bull market and a real ALT season.
I see three scenarios here. 1) The market dumps again and ALT's get crushed, 2) BTC pumps leaving ALT's a current levels or even dropping a bit as money flows from ALT's to BTC, or 3) It's ALT season and BTC will break this descending triangle to the downside (ALT's pump BTC stays or keeps bleeding).
As the saying goes "the trend is your friend until the end." We've been in a down trend. BTC dominance generally goes up in a downtrend. I could be wrong of course, but I think that there's stronger probability that scenario 1 plays out at least for a few more weeks until BTC is able to turn it around and lead ALT's into a continuation of the bull market and a real ALT season.