Using BTC Dominance With Current Bitcoin Price
Some people monitor bitcoin price along with bitcoin dominance to help them make trading decisions. Although they are not iron laws, here are some potential outcomes that various combinations of BTC price and dominance may be indicative of.
1. When the price and dominance of BTC are rising, it could signal a potential bitcoin bull market.
2. When the price of BTC is rising but BTC dominance is falling, it could signal a potential altcoin bull market.
3. When the price of BTC is falling but BTC dominance is rising, it could signal a potential altcoin bear market.
4. When the price and dominance of BTC are falling, it could signal a potential bear trend for the entire crypto market.
5. While these two factors do not imply a definite bull or bear market, historical observations suggest a correlation.
1. When the price and dominance of BTC are rising, it could signal a potential bitcoin bull market.
2. When the price of BTC is rising but BTC dominance is falling, it could signal a potential altcoin bull market.
3. When the price of BTC is falling but BTC dominance is rising, it could signal a potential altcoin bear market.
4. When the price and dominance of BTC are falling, it could signal a potential bear trend for the entire crypto market.
5. While these two factors do not imply a definite bull or bear market, historical observations suggest a correlation.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.