Good evening everyone. I would like to publicly address the question that most of you are asking, which is: “Why aren’t altcoins rising?”
At CryptoHood, we don't just earn, we learn too, so take your time to read this because I want to answer that question.
As I write this, 1 $BTC is currently worth $98,000. Doesn’t that mean altcoins should be doing well too? But the truth is they are the very definition of a turtle trying to run because they are too slow. But when the price of $BTC drops, they crash hard. Why does that happen?
The answer is simple:
*Bitcoin dominance*
Currently, Bitcoin dominance has risen to 61.44%.
This means that 61.44% of all money invested in all cryptocurrencies is in Bitcoin. Think about it. If you had a lot of money to invest in a cryptocurrency, wouldn’t you buy the one that so many powerful people are watching (*cough: Michael Saylor)?
The wave you've been waiting for will happen when Bitcoin's dominance loses its current uptrend and starts to decline significantly.
You can expect this to happen after it breaks a new high and starts moving sideways, or holds for a while.
Then, all the liquidity will start flowing into altcoins because the psychology of investors will change as they believe that the wave is over.
This is what happened in the previous bull run, and the one before that. Do your research.
Which is exactly what will happen again.
When will Bitcoin's dominance reverse?
Well, based on historical support levels - around 60-65% max dominance can be expected. So we are close to that, or we might already be there, who knows? Just wait for $BTC to start consolidating.
I know it’s frustrating to see $BTC go up, only to find out your bags are no better than a snail. You’ve survived a bear market, so this should be a walk in the park for you. Cryptocurrencies are, and always will be, a game of patience. Soon, liquidity will start flowing into altcoins. Use this time to position yourselves strategically, okay?
Remember, things don't happen to you.
