Can Bitcoin Dominance reverse
In 2021 I wrote about bottom for BTC.D since then effectively the same bottom has held. Can this this be the turn around? For months there has been a push away from Bitcoin in sentiment. It's old, slow, etc.. whatever reasons that get stated. Reality is it's still seeing adoption. So all it takes is a price crash in alts and narrative changes to how they were all useless and Bitcoin solves every problem. Narratives don't have to be true they just tell people what they want to hear based on their emotional state. No one wants to sell there alt coin to you at 80% loss and hear the narrative that it's going to 100x.
Both MACD and RSI on weekly chart have been showing this reversal for almost a year. While alts unlike Bitcoin have seen extreme greed on sentiment during this time.
Both MACD and RSI on weekly chart have been showing this reversal for almost a year. While alts unlike Bitcoin have seen extreme greed on sentiment during this time.
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.