Don't judge a book from it's cover. Read on and soon, you will find out who the real winner might be.
The explosive crypto mania was born because of Bitcoin. It is the reason myriads of alt-coins are now traded every day.
From the countless of alternatives, one became strong enough to constitute an alternative to the coin that started it all.
Ethereum (ETH)
From the chart below it is apparent that Bitcoin Dominance is mainly affected by Ethereum
In this idea I will be ignoring the effect of alt-coins, the dominance of which is shown in the following chart.
So how do the big guys compare to each other?
Simple... right? Well not exactly... Not all candidates fight with the same rules. Ethereum started after Bitcoin, and the enthusiasm has given it an apparent advantage.
To fix things, we must make the game fair for everyone. To achieve that, we divide each coin with the total amount of addresses (the bubble part).
In this chart above, I did an important transformation. BTC_ADDRESSES, as noted on my previous idea, is the reason items like crypto get explosive.
You know this chart above reminds me of another dominance chart:
Bitcoin did show it's power compared to other crypto. After all, it is not important if you bubble without foundation.
Ethereum is in an even bigger bubble than Bitcoin.
And a final, short-term chart for today. The calculation is again "modified-btc"/"modified-eth"
Tread lightly, for this is hallowed ground.
-Father Grigori
The explosive crypto mania was born because of Bitcoin. It is the reason myriads of alt-coins are now traded every day.
From the countless of alternatives, one became strong enough to constitute an alternative to the coin that started it all.
Ethereum (ETH)
From the chart below it is apparent that Bitcoin Dominance is mainly affected by Ethereum
In this idea I will be ignoring the effect of alt-coins, the dominance of which is shown in the following chart.
So how do the big guys compare to each other?
Simple... right? Well not exactly... Not all candidates fight with the same rules. Ethereum started after Bitcoin, and the enthusiasm has given it an apparent advantage.
To fix things, we must make the game fair for everyone. To achieve that, we divide each coin with the total amount of addresses (the bubble part).
In this chart above, I did an important transformation. BTC_ADDRESSES, as noted on my previous idea, is the reason items like crypto get explosive.
You know this chart above reminds me of another dominance chart:
Bitcoin did show it's power compared to other crypto. After all, it is not important if you bubble without foundation.
Ethereum is in an even bigger bubble than Bitcoin.
And a final, short-term chart for today. The calculation is again "modified-btc"/"modified-eth"
Tread lightly, for this is hallowed ground.
-Father Grigori
Note
This is a chart I posted a while ago, supporting the bullish outlook for Bitcoin:This was part of the following idea:
There is more evidence supporting this:
Let's see how this plays out...
Note
Bitcoin is bullish against bonds. And it is creating a massive golden bull-flag in the process.Bond Prices (TLT) ~ 1/modified-yields = 1/(US10Y+1+1/US10Y)
Note
One short update, using the KST-Based MACD indicator I built.Note
Bitcoin dominance fading?Note
EVERYTHING is bullish on this chart:One coin to rule them all.
Note
Trust on Bitcoin restored?The Bitcoin trust GBTC, the ratio of which against Bitcoin is positively correlated to Bitcoin prices (GBTC more sensitive to growth than Bitcoin) is showing significant bullish signs.
Note
What if, after the 2020-2022 crypto mania, Bitcoin returns as an institutional hedge?Note
Note
Minecraft WorldNote
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Related publications
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.