Bitcoin Dominance - dictating alt bear market
Bitcoins dominance can be used to help understand the market cycles and the mechanisms of money flow that happens within a cycle
Last bear market Bitcoin made a reclamation move of 77% on Bitcoin dominance. This bear market the clear target is a 20% reclamation move of dominance.
What does this mean? The ascendency of Bitcoin dominance is the indicator of a bear market for alt coins. As VC interests continuously dump for profit from vesting schedules into a market lacking retail interest the alts will get cannibilised by sell pressure as Bitcoin reclaims it's value from the market.
The move has already started and I am a firm believer tha alt coins "in general" are going to get decimated over the coming year. However there will always be stand out performers etc
Last bear market Bitcoin made a reclamation move of 77% on Bitcoin dominance. This bear market the clear target is a 20% reclamation move of dominance.
What does this mean? The ascendency of Bitcoin dominance is the indicator of a bear market for alt coins. As VC interests continuously dump for profit from vesting schedules into a market lacking retail interest the alts will get cannibilised by sell pressure as Bitcoin reclaims it's value from the market.
The move has already started and I am a firm believer tha alt coins "in general" are going to get decimated over the coming year. However there will always be stand out performers etc