Today, with your permission, ➡️ I will continue to highlight my work on the market analysis plan in order to assess its prospects in more detail in the medium term. Today we will analyze with you such an index as #BTCDominance” and its impact on the overall market situation✨
Dominance $BTC
- this is an indicator of what market share it occupies in terms of its capitalization✔️ Such a tool makes it possible to understand how much influence cryptocurrency has on the market. The indicator itself is calculated as follows: we take the capitalization of the cryptocurrency we are interested in, ➖ divide it by the capitalization of the 125 largest cryptocurrencies and then multiply the result by 100. The resulting percentage is the cryptocurrency dominance index. That is, in our case, Bitcoin occupies 54.68% of the total capitalization of cryptocurrencies as a whole✨
🏷The following relationship is also observed: with a simultaneous increase in both price and dominance $BTC , altcoins begin to lose their market share🔔, which is why their value, demand and position in the ratings decrease. This often happens when Bitcoin goes through a consolidation phase and the market begins to rise (which is what we are seeing now)💵
Now having more information about how the market works and understanding the direct flow of large money from alt to bitcoin and vice versa, we begin to combine yesterday’s information with the “AltSeason Index” and understand that these two indicators work opposite to each other. And when this movement of indices begins, then the long-awaited Alt Season will begin💵
It is also important to take into account the general trend of investor sentiment. Monitor purchases of large crypto funds and trend preferences. It is also necessary to monitor the launches of strong projects when they enter the market (often, this happens just before or already at the start of a reversal in altcoin price growth)
Therefore, summing up the current information, I can confidently say that we have time to build a crypto portfolio🔄 So, we will use it wisely and ultimately, we will see the desired result from increasing profits. I set myself a goal👆 - to multiply the current capital on bullish growth by at least x20-50, buying only#SPOTwithout futures and margin positions⭐️$BTC
Fasa's Vision - Crypto Phenomenon 👥