I started to write this late last night, so I’m a bit late to the punch seeing it starting to play out. Bitcoins dominance was due for a good pullback. ETH clearly had room to go but a question came to mind. What if bitcoins dominance pulling back would be good for bitcoin? The amount of money flowing into the market going mainly into bitcoin caused the dominance to climb high into the 70% range. Causing bitcoin to climb but alts to either range sideways or suffer losses. Things could be different this time around. As bitcoins dominance comes down, due to fresh money coming into the market, alts are doing well. We can see this clearly with ETH.D and with alts doing well. Things are looking even better because bitcoin didn’t drop with its dominance. Granted it hasn’t moved a ton, but it’s held a steady pace as we play out this larger triangle. The fact that bitcoin has climbed back to almost 10,300 is a good sign that people are taking profits from altcoins into bitcoin. Giving a good sign that we are indeed in another bull market. Now it will be a wash, rinse, repeat cycle for the next few years. Tremendous gains will be ahead of us. Buckle up everyone this will be one crazy ride
Comment:
Bitcoins dominance has pulled back
Ethereum dominance is rising
Total market cap looking for a move upward
Ethereum spruce clearly leading the way. This could just be the beginning of a much larger move higher
