What is Bitcoin Dominance? How to use Bitcoin Dominance in Crypto Trading? So yo have decided to make a future as a successful Trader. Let me share with you some secrets about bitcoin Dominance and its effect on whole cryptocurrency market. Let's Dive in
What is Bitcoin Dominance? First we need to understand what is bitcoin dominance. Btc dominance is a ratio between market capitalization of btc to the total market cap of the entire crypto market and it is calculated by dividing bitcoin,s market capitalization by total market cap of all cryptocurrencies and multiplying by 100.
Bitcoin Dominance= (Bitcoin Market Cap/Total Crypto Market Cap) x 100
Bitcoin Dominance VS Altcoins We can use Bitcoin dominance as a Trading indicator. Simply bitcoin dominance is a relative strength of bitcoin compared to other altcoins. Higher btc dominance means, traders are having more interest in bitcoin rather than other cryptocurrencies. Usually in General when btc dominance rise then altcoins market can crash. On the other hand if btc dominance decreases that's indicate Altcoins are gaining more market share.
How to use bitcoin dominance in Trading Bitcoin dominance is often used as trading strategy. This helps the traders in many ways
Portfolio Diversification Traders can easily diversify their crypto portfolio by observing the btc dominance.
Entry and exit from traders Bitcoin dominance indicate us when to take entry or exit from bitcoin and altcoins. Let me make it simple, Use this formula,
Bitcoin Dominance High+bitcoin in uptrend = Sell Altcoins Bitcoin Dominance High + bitcoin in downtrend = Buy Altcoins BTC dominance Low + Bitcoin in Uptrend = Sell Altcoins BTC dominance Low + Bitcoin in Downtrend = Buy altcoins
Market Sentiments Analysis Above formula is clearly help us to understand the crypto market sentiments. We can easily monitor wether money is flowing into altcoins or bitcoin.
Want to learn more deeply about Bitcoin Dominance then read this Binance Article @Binance
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💥💥💥STAKE STAKE AND STAKE💥💥💥 Introducing AEVO (AEVO) on Binance Launchpool! Farm AEVO by Staking BNB and FDUSD Fellow Binancians, Binance is excited to announce the 48th project on Binance Launchpool - AEVO (AEVO), a decentralized derivatives exchange platform. The webpage is estimated to be available in 24 hours, before the Launchpool starts. Users will be able to stake their BNB and FDUSD into separate pools to farm AEVO tokens over five days, with farming starting from 2024-03-08 00:00 (UTC). Listing Binance will then list AEVO at 2024-03-13 10:00 (UTC) and open trading with AEVO/BTC, AEVO/USDT, AEVO/BNB, AEVO/FDUSD and AEVO/TRY trading pairs. The Seed Tag will be applied to AEVO. AEVO Launchpool Details: Token Name: AEVO (AEVO) Max Token Supply: 1,000,000,000 AEVO Launchpool Token Rewards: 45,000,000 AEVO (4.5% of max token supply) Initial Circulating Supply: 110,000,000 AEVO (11% of max token supply) Smart Contract Details: Ethereum Staking Terms: KYC required Hourly Hard Cap per User: 30,000 AEVO in BNB pool 7,500 AEVO in FDUSD pool Supported Pools: Stake BNB (webpage will be available in around 24 hours): 36,000,000 AEVO in rewards (80%) Stake FDUSD (webpage will be available in around 24 hours): 9,000,000 AEVO in rewards (20%) Farming Period: 2024-03-08 00:00 (UTC) to 2024-03-12 23:59 (UTC). AEVO Farming Distribution Dates (00:00:00 - 23:59:59 UTC each day) Total Daily Rewards (AEVO) BNB Pool Daily Rewards (AEVO) FDUSD Pool Daily Rewards (AEVO) 2024-03-08 - 2024-03-12 9,000,000 7,200,000 1,800,000 Read about AEVO (AEVO) in our research report here, which will be available within 1 hour of publishing this announcement. Project Links Website: https://www.aevo.xyz/ Whitepaper: https://docs.aevo.xyz/aevo-exchange/introduction X: https://twitter.com/aevoxyz Discord: https://discord.com/invite/aevo Medium: https://aevo.mirror.xyz/. #Lauchpool #AEVOLAUNCHPOOL #stakebnb #Free_Airdrops