LONG on Alts (BTC dominance declining further)
Hey guys,
Hope you are all doing great !
Already a week has passed since our last post and Bitcoin was not doing much as well in that time. As usually when BTC is trending sideways some Alts go wild. And we have time to check out some interesting charts for you (and us :-).
The first chart I want to bring to your attention is the BTC.D (Bitcoin Dominance vs. Altcoins). Here we can clearly see the down trend of BTC dominance since beginning of the 2021. This indicates that cash was flowing from BTC into the Altcoins. A lot of Altcoins gained 10x (against USD) or more in that period.
It does not seem like a trend reversal yet. BTC dominance could drop to 50% levels and below and that will give Alts the opportunity to rise further against USD but also against BTC.
I’m currently preparing some posts about interesting Altcoin projects and charts. I’ll keep you posted 😊
Your valuable input and feedback are much appreciated.
Cheers
Hope you are all doing great !
Already a week has passed since our last post and Bitcoin was not doing much as well in that time. As usually when BTC is trending sideways some Alts go wild. And we have time to check out some interesting charts for you (and us :-).
The first chart I want to bring to your attention is the BTC.D (Bitcoin Dominance vs. Altcoins). Here we can clearly see the down trend of BTC dominance since beginning of the 2021. This indicates that cash was flowing from BTC into the Altcoins. A lot of Altcoins gained 10x (against USD) or more in that period.
It does not seem like a trend reversal yet. BTC dominance could drop to 50% levels and below and that will give Alts the opportunity to rise further against USD but also against BTC.
I’m currently preparing some posts about interesting Altcoin projects and charts. I’ll keep you posted 😊
Your valuable input and feedback are much appreciated.
Cheers
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