Bitcoin Dominance vs. Altcoins
Updated
Bitcoin dominance is an extremely important parameter for traders and investors.
It marks the beginning or end of altcoins season!
BTC.D
Bitcoin dominance is an important metric for understanding the overall health of the cryptocurrency market. As the most dominant cryptocurrency, it's an indication of the strength and popularity of the asset, and can be used as an indicator of the overall market sentiment. Therefore, investors need to monitor Bitcoin dominance to gain insights into the current state of the market.
It marks the beginning or end of altcoins season!
BTC.DBitcoin dominance is an important metric for understanding the overall health of the cryptocurrency market. As the most dominant cryptocurrency, it's an indication of the strength and popularity of the asset, and can be used as an indicator of the overall market sentiment. Therefore, investors need to monitor Bitcoin dominance to gain insights into the current state of the market.
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"Bitcoin bounced at the 62% level as predicted in 2023. I expect one of two attempts before altseason starts."
Key Points to Consider:
If Bitcoin holds above the 61.8% level and breaks key resistance levels, it could attract more attention to the crypto market, delaying an altseason.
If Bitcoin consolidates or struggles to break further resistance levels, liquidity might shift to altcoins, sparking an altseason.
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