Bitcoin Dominance Keeps Rising: Alts Will Keep Getting Rekt!
Most altcoins have been underperforming BTC by quite a big margin over the last ~2 years. If you look at most alts, they are edging around the bear-market lows or trading slightly above it. A far cry from BTC's ~4x above the bear market low.
The result of BTC's overperformance is the sharp rise in Bitcoin Dominance (BTC.D).
As of last week, BTC.D has made a new high this cycle. With the risk of a recession increasing, there's a high probability that Bitcoin is going to be the investment of choice for crypto holders (apart from stablecoins).
My assumption is that the BTC.D will continue to rise towards the yellow area, potentially even higher if the recession actually hits.
Alts are prone to lose against BTC, and are likely to keep losing value against BTC for the foreseeable future. On the other hand, if the BTC.D keeps rising it will also come down at some point and cause a massive alt season.
Patience is key.
The result of BTC's overperformance is the sharp rise in Bitcoin Dominance (BTC.D).
As of last week, BTC.D has made a new high this cycle. With the risk of a recession increasing, there's a high probability that Bitcoin is going to be the investment of choice for crypto holders (apart from stablecoins).
My assumption is that the BTC.D will continue to rise towards the yellow area, potentially even higher if the recession actually hits.
Alts are prone to lose against BTC, and are likely to keep losing value against BTC for the foreseeable future. On the other hand, if the BTC.D keeps rising it will also come down at some point and cause a massive alt season.
Patience is key.
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