BTC Dominance - Altcoins What's The Connection ?
Who remembered this ?? đ 20 Days ago I warned about BTC.D check the chart and previous update.
Perfect Predicted hit 37.50 and dumping/ soon breakdown this rising wedge then Altcoins will flying... đđż
If you've been explorimg the crypto world for a bit, youâve probably heard people talking about âBTC dominance.â But what does it mean, and how does it affect altcoins? Letâs talk about this & explore this connection with Altcoins!!
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What is BTC Dominance?
BTC dominance is a measure of how much of the total cryptocurrency market value (market cap) is made up of Bitcoin. When BTC dominance is high, it means Bitcoin is holding a larger share of the total market compared to other cryptocurrencies, known as altcoins (alternative coins)
How BTC Dominance Affects Altcoins?
1ïžâŁ When BTC Dominance Increases:
As BTC dominance rises, altcoins often struggle to gain value. Investors may be selling altcoins to buy more Bitcoin, causing altcoin prices to drop or stay stagnant.
2ïžâŁ When BTC Dominance Decreases:
A decrease in BTC dominance might mean that altcoins are gaining popularity. Investors could be moving their money from Bitcoin into altcoins, which can drive altcoin prices up.
3ïžâŁ Market Cycles:
Sometimes, we see shifts in dominance depending on the market cycle. For example, during a âbull marketâ (when prices are generally rising), altcoins might see huge gains as investors look for higher returns outside of Bitcoin now it time to bull market đ?
