I started trading in August/September 2017. This was my process of growing as a trader since that time:
2017 = 100% focus on Sia; ignore Bitcoin.
2018 = 100% focus on Sia; don't ignore Bitcoin.
2019 = 100% focus on Bitcoin; sell Siacoin.
2020 = 100% focus on BTC/ETH/BNB+ALT pairs.
I told my friends and the Sia trading community to sell Siacoin at 70 sat. While they lost 50% of their value, I moved it into Bitcoin and made a fortune. Siacoin is a long term investment vehicle and a fetish asset for people new to crypto, with little/no trading knowledge. It's the, "In the future I will be rich" asset where "it will go to the ATH (All Time High) and I will be a millionaire."
From my experience trading Siacoin since 2017, ASICS and the hard fork introduced too much Siacoin into the market for prices over 100 sat to be realized any time soon. My advice to Siacoin HODLers and dreamers, the same as I told people at 70 sat and 3400 BTC price: BUY BITCOIN.
Specifically targeting your question, I haven't yet integrated analyzing/using BTC Dominance into my trading. I tried some interesting things with it but candlestick and volume analysis on Bitcoin are sufficient for assessing money flow in the market. When Operators distribute BTC to public FOMO buyers, alt volume goes through the roof. This is because altcoin HODLers sell into Bitcoin FOMOing at the top and Operators sell to them, buying altcoins across the market at panic prices.
Operators already made their money in altcoins and FOMO Bitcoin buyers are about to make their final mistake.
Tomorrow, I think BTC will rally again hard. Better people sell their shitcoins and buy Bitcoin now. The fantasy need to meet reality.
Lenni_L
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@zerocashcool, NICE! Thanks for the detailed answer! Ask about SC because first visit your TV page through SC Trading discord! Also traded XRP SC and DGB in 2017-may 2018. )) Now will stay away from first (as it is big centralized inflatory washing) and see where the second 2 will go for now) For 2020 i look into Privacy coins because BTC adresses start getting blacklisted by goverment request - not a good sign and layer 2 solutions for privacy on BTC is still to come. )
zerocashcool
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@Lenni_L, really smart move about privacy coins. Great thinking.
They're triggering the buy orders using BTC, driving the price of BTC down, making people want to get into alts and out of Bitcoin.
They're buying the BTC using USDT.
I think they already knocked out BNB. BCH next.