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BTC Dominance - Massive Breakout! 60% Next!
Market Cap BTC Dominance, %
Long
BTC Dominance - Massive Breakout! 60% Next!
By DU09
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Oct 25, 2023
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Oct 25, 2023
Bitcoin just out-performed the whole market.
In the process it escaped from the 50% resistance and now is well on its way to 60%.
This means one thing:
HOLDING BTC right now is the best trade, nothing else.
So long the BTC dominance goes up, you want to hold only one coin - THE KING OF CRYPTO.
This is great news as money is flowing into BTC, including new money.
Eventually some of that will spill-over into alts, but I don't expect that to be significant with the BTC halving due in April 2024.
I expect alts to perform better than BTC once BTC Dominance hits a ceiling. Either at 60% or 70%. Hard to say now.
Keep an eye on this chart. My bias is bullish on BTC for the next six months and I favor BTC vs any alts right now.
Like and follow for more ideas!
Bitcoin (Cryptocurrency)
BTC
btcdominance
Chart Patterns
dominance
Technical Indicators
Trend Analysis
DU09
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