BTC to the moon. Alts to Mars. BTC Dominance explains!
(Credits: Thanks to H Channel for the insights contributing this idea!)
Hi Everybody~
This is Wasabi. Welcome back to WasabiChart!
Today, I'd like to share with you an in-depth review of what has happened with changes in the Bitcoin dominance.
When I was expecting the bitcoin dominance to go lower in the shape of N in the overall uptrend of the cryptos, with the recent overshooting of BTC , it's more likely for us to see the bitcoin dominance nose-dive very soon.
Today can be viewed as March 6th , 2017, which is the beginning of the previous 2017 March dominance's nose-diving since the bitcoin dominance has reached the top of the descending channel of the bitcoin dominance.
From March 6th , 2017 to June 12th, 2017, for the three months, we saw a big rise in BTC value by 147%. On the other hand, the bitcoin dominance fell by -43% remarkably.
This means that the portion of BTC among the entire crypto market cap fell by -43% and that the rest of cryptos rose enormously.
For the same period of time, the entire crypto market cap saw a bigger rise by 374% than that of BTC.
If we had bigger positions in Alts, we would have had much sweeter fruition.
This is the reason why we will need to focus on the bitcoin dominance in the future.
As of now, the bitcoin dominance is in the upper area of the descending channel . This means that the rise in BTC has been bigger than that of Alts.
When expecting the same pattern to repeat itself, we can find it useful to convert some portion of BTC holdings to Alts which didn't experience big rise in value yet.
Please subscribe and Like it if it helped.
Thanks,
WasabiChart
Hi Everybody~
This is Wasabi. Welcome back to WasabiChart!
Today, I'd like to share with you an in-depth review of what has happened with changes in the Bitcoin dominance.
When I was expecting the bitcoin dominance to go lower in the shape of N in the overall uptrend of the cryptos, with the recent overshooting of BTC , it's more likely for us to see the bitcoin dominance nose-dive very soon.
Today can be viewed as March 6th , 2017, which is the beginning of the previous 2017 March dominance's nose-diving since the bitcoin dominance has reached the top of the descending channel of the bitcoin dominance.
From March 6th , 2017 to June 12th, 2017, for the three months, we saw a big rise in BTC value by 147%. On the other hand, the bitcoin dominance fell by -43% remarkably.
This means that the portion of BTC among the entire crypto market cap fell by -43% and that the rest of cryptos rose enormously.
For the same period of time, the entire crypto market cap saw a bigger rise by 374% than that of BTC.
If we had bigger positions in Alts, we would have had much sweeter fruition.
This is the reason why we will need to focus on the bitcoin dominance in the future.
As of now, the bitcoin dominance is in the upper area of the descending channel . This means that the rise in BTC has been bigger than that of Alts.
When expecting the same pattern to repeat itself, we can find it useful to convert some portion of BTC holdings to Alts which didn't experience big rise in value yet.
Please subscribe and Like it if it helped.
Thanks,
WasabiChart
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