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Bitcoin Dominance Back to 50% is ImminentMost are now are all in Bitcoin, especially considering BTC.D growth. This is market panic, which does result in a lot of money being moved from alts to Bitcoin. But this is exactly when smart money goes in. The market pshycology tells me, that this is perfect time for BTC.D to start reversing. Nevertheless, the it could be too early for the Alt Season to start. I'd expect it to BEGIN at the end of this year.... or, to END by the end of this year. Soon we'll find out, but I am holding my alts long term. Now you might ask why BTC will lose so much dominance. Well, BTC is a store of value, a long term "GOLD" investment. But, blockchain continues to develop with mass adoption on its' way. This will stimulate the growth of other chains and capital will be slowly distributed. People don't like to keep all eggs in one basket, even if this is a basket of Gold. They will buy Silver, Diamonds, Property etc simply to diversify.
CRYPTOCAP:BTC.DShort
by CryptoPAMM
19
Update - BTC still going to 7200 (or lower)If you've found this helpful, please leave a like and subscribe. Do you agree or disagree? I would love to hear your thoughts in the comments! We've broken two trend lines and the price currently finds support at .382 7200 represents the .618 retrace line and hence, the basis for my target. BTC.D (Bitcoin Dominance) is waning and alt coins are seeing those 20-40% daily gains. This seems likely to continue to (or around) August 6th, where BTC could bounce or see selling accelerated.
COINBASE:BTCUSDShort
by jdharward
1