I have not seen anyone post a chart that shows BTC, ALTS, and BTC Dominance all against each other on the same time frame. I think you will find it interesting if you pay attention and really look at the details.
BTC's ATH in 2017 corresponds with BTC dominance, whereas ALTS only had a slight run up. You can the red arrow is the ATH around 20k. It dropped to around 11k, and ALTS suffered a bit, see red arrow on NEO Chart. BTC then made a run for 16k, trying to get back to ATH (green arrow). But as you can see on ALTS and dominance charts, money was getting poured into ALTS and BTC dominance was dropping dramatically. This suggests to me the smart traders were using their high value btc to buy cheap alts before the market crashed out in both btc and alts a month later. I personally believe we are on the brink of something similar.
Yes! exactly. BTC dominance is a very smart thing to watch out for when considering getting into ALTs. When BTC dives, ATL are the only place to put your money to make money on day and swing trading and they will pump them. Very similar to when stocks tank, a lot of folks turn to gold or bonds etc.
Yes! exactly. BTC dominance is a very smart thing to watch out for when considering getting into ALTs. When BTC dives, ATL are the only place to put your money to make money on day and swing trading and they will pump them. Very similar to when stocks tank, a lot of folks turn to gold or bonds etc.