BTC.D - Where to?
So looking at the chart and I have some thoughts:
I'll start with the most important thing, I don't see any reason for buying BTC at the moment, there are just much better investment opportunities out there.
ETH and the NFT mania are here to stay, though they should cool off for a little. DEFI is strong and there are many yielding assets you can hold, and even if it goes down vs $, you should keep compounding your gains - and eventually the market will catch up.
Most of the people here don't really know what they are doing, including myself(Although I did do some research, but I was sure I'm smart as hell when I really wasn't). Ending up having less coins than they initially had. This market is still very stupid, and you've got tons of examples for it.
So.. BTC will lose strength against basically everything, I can see an up movement in dominance only when we pass 60k - for like 1~2 months of FOMO, so IMO we may reach the 50% again as people will move out of shitcoins. (ETH.D will go up respectably)
I can also see a chance of everything collapsing before we reach new ATH, people are still afraid of the value against dollars and when a crisis occurs they will want to have cash - thinking BTC will go lower. It's a self-fulfilling prophecy.
In that case BTC.D will probably recover.
You have to be prepared for both scenarios, ride the trend before the herd realizes the trend is over.
I think this will be the time the strong ones will have to survive, as the ETH flippening happens - and the shitcoins... well they are fucked, and they should be.
I'll start with the most important thing, I don't see any reason for buying BTC at the moment, there are just much better investment opportunities out there.
ETH and the NFT mania are here to stay, though they should cool off for a little. DEFI is strong and there are many yielding assets you can hold, and even if it goes down vs $, you should keep compounding your gains - and eventually the market will catch up.
Most of the people here don't really know what they are doing, including myself(Although I did do some research, but I was sure I'm smart as hell when I really wasn't). Ending up having less coins than they initially had. This market is still very stupid, and you've got tons of examples for it.
So.. BTC will lose strength against basically everything, I can see an up movement in dominance only when we pass 60k - for like 1~2 months of FOMO, so IMO we may reach the 50% again as people will move out of shitcoins. (ETH.D will go up respectably)
I can also see a chance of everything collapsing before we reach new ATH, people are still afraid of the value against dollars and when a crisis occurs they will want to have cash - thinking BTC will go lower. It's a self-fulfilling prophecy.
In that case BTC.D will probably recover.
You have to be prepared for both scenarios, ride the trend before the herd realizes the trend is over.
I think this will be the time the strong ones will have to survive, as the ETH flippening happens - and the shitcoins... well they are fucked, and they should be.
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