Good Evening, everyone. I would like to publicly address the question most of you are asking, which is: “WHY ARE ALTCOINS NOT PUMPING?"
In Cryptohood, we don’t just earn, but we learn as well, so take your time to read this because I want to answer that question.
As I’m typing this, 1 $BTC is currently $98,000. Doesn’t that mean alts should be doing well also? But the reality is, they’re the very definition of a turtle trying to run ‘cause they’re so slow. But when $BTC falls in price, they dump hard, why is that?
The answer is simple:
*Bitcoin Dominance*
Right now, Bitcoin Dominance has surged to 61.44%.
This means 61.44% of the entire money invested in all of Crypto is in Bitcoin. Think about it. If you had a lot of money to invest in a cryptocurrency, wouldn’t you buy the one coin that lots of powerful people (*coughs: Michael Saylor) has their eyes on?
The Alt rally you’ve been waiting for will occur when Bitcoin Dominance loses the current uptrend and starts going down significantly.
You can expect this to happen after $BTC breaks new ATH's and begins to go sideways, or consolidate for a while.
Then, all of the liquidity will begin to flow into altcoins because the psychology of investors will change as a result of them thinking that the $BTC rally is over.
It's what happened in the past bull run, and the one before that. Kindly do your research.
And it's exactly what will happen again.
When will the Bitcoin Dominance reverse?
Well, based on historical support levels - around 60-65% can be expected for a peak in dominance. So we’re almost there, or we may be already there, who knows? Just wait for $BTC to start consolidating.
I know it’s frustrating to see $BTC pump, only for you to find out that your bags are no better than a snail. You survived the bear market, so this should be like a walk in the park for you guys. Crypto is, and will always be a game of patience. Soon, liquidity will start flowing into alts. Use this time to position yourselves strategically, okay?
Remember, things don’t happen to you.
