BITCOIN: Is a MASSIVE BULL RUN in the Making?
This chart tracks Bitcoin's market dominance, starting from 2018. I've spotted some similarities to the current market situation, hinting a potential massive bull run for BTCUSD.
What are your thoughts on this? Feel free to comment and boost this idea if you agree.
Cheers,
Ares
- Accumulation Phase (2018-2019): Investors were gradually accumulating Bitcoin, setting the stage for future gains.
- Bullish Phase (2019-2021): Bitcoin's market dominance increased sharply, indicating strong investor confidence and interest.
- Bearish Phase (2021-2023): Bitcoin's dominance declined as other cryptocurrencies gained market share, reflecting a broader interest in the crypto market.
- Current Bullish Phase (2023-Present): Bitcoin dominance is rising again, suggesting renewed investor confidence and the potential for a massive bull run.
- We are currently at 55.53% dominance, with projections showing the possibility of reaching new all-time highs above 70%.
What are your thoughts on this? Feel free to comment and boost this idea if you agree.
Cheers,
Ares
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