The Bitcoin's Dominance Index, which shows the dominance of this cryptocurrency over the entire market, has recorded significant movements since August 2022 compared to the price movements of Bitcoin.
By comparing the ceilings created in the range of October 2021 and February 2022, at this time, with the price increase, the dominance index has been decreasing, and it has shown that the market is emptying these ceilings. Since August 2022, although Bitcoin is still trading at lower prices, its dominance in the market has been increasing at times and unchanged at worst.
After making the recent floor in November 2022, Dominance is also in full convergence of this growth, which shows that with the price increase, buyers have shown more willingness to buy.
The increase of the convergence dominance index with the growth of the price during the decline is one of the important events to detect a strong movement in this market.
By comparing the ceilings created in the range of October 2021 and February 2022, at this time, with the price increase, the dominance index has been decreasing, and it has shown that the market is emptying these ceilings. Since August 2022, although Bitcoin is still trading at lower prices, its dominance in the market has been increasing at times and unchanged at worst.
After making the recent floor in November 2022, Dominance is also in full convergence of this growth, which shows that with the price increase, buyers have shown more willingness to buy.
The increase of the convergence dominance index with the growth of the price during the decline is one of the important events to detect a strong movement in this market.
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