😥🎢BTC.D: retail traders sell alts in a panic! Time to buy?
Updated
📈Bitcoin's dominance has grown to 45%, while most altcoins have fallen by 75-90% from their ATH. One Luna🌔 lost $18 billion in capitalization. Why do we need this dominance and how it helps to increase the win rate? I'll explain it in this idea.
💼What is dominance? Bitcoin dominance is the ratio of the capitalization of the major cryptocurrency ( BTC ) to the total capitalization of cryptocurrencies. Simply put, % of Bitcoin's capitalization in the TOTAL capitalization of the crypto market (Bitcoin+Altcoins). Now it`s 45%.
💹What does dominance help to identify? As we can see from the 8% dominance growth, altcoins are getting weaker. But why does this happen? It is because of the panic of retail traders. In search of a quick profit and investing all their depo in altcoins without any analysis, they have lost significant capital and are trying to sell them as fast as possible despite the 90% fall of alts.
✅The key level of 50%, when the value of all altcoins=the value of all Bitcoins, will be the huge resistance to Dominance. Bitcoin can reach that level if it can drop to $23-25k and all retail investors finally panic sell off their alcoins, pushing the price down. That would be the best place to buy, but I'll tell you about that later.
🏁Let me know if you want to know more about altseasons: why and when it`s happen? Altseason is the best opportunity to grow your deposit.
💻Friends, press the "like"👍 button, write comments and share with your friends - it will be the best THANK YOU.
P.S. Personally, I open an entry if the price shows it according to my strategy.
Always do your analysis before making a trade.
💼What is dominance? Bitcoin dominance is the ratio of the capitalization of the major cryptocurrency ( BTC ) to the total capitalization of cryptocurrencies. Simply put, % of Bitcoin's capitalization in the TOTAL capitalization of the crypto market (Bitcoin+Altcoins). Now it`s 45%.
💹What does dominance help to identify? As we can see from the 8% dominance growth, altcoins are getting weaker. But why does this happen? It is because of the panic of retail traders. In search of a quick profit and investing all their depo in altcoins without any analysis, they have lost significant capital and are trying to sell them as fast as possible despite the 90% fall of alts.
✅The key level of 50%, when the value of all altcoins=the value of all Bitcoins, will be the huge resistance to Dominance. Bitcoin can reach that level if it can drop to $23-25k and all retail investors finally panic sell off their alcoins, pushing the price down. That would be the best place to buy, but I'll tell you about that later.
🏁Let me know if you want to know more about altseasons: why and when it`s happen? Altseason is the best opportunity to grow your deposit.
💻Friends, press the "like"👍 button, write comments and share with your friends - it will be the best THANK YOU.
P.S. Personally, I open an entry if the price shows it according to my strategy.
Always do your analysis before making a trade.
Note
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