Biased SOL outlook%R has been a cheat code on the daily for Solana
Just dipped below the scary line again
If not a fakeout, could be good R/R
Marketshare
Extremily extended $BTC.D Bitcoin DominanceThe Bitcoin Dominance CRYPTOCAP:BTC.D is almost at the vertix of the wedge
It is been 2 months now it is flerting with the down side, but returns to the wedge formation
Once the break down is confirmed, expect a surge on alts!
While BTC is preparing for the next move Altscoins like...While BTC is preparing for the next move... Altcoing like EOS, BNB, LTC, XRP among others... are doing great in the last couple of days.
Comparing dominances between multiple coins like Bitcoin, Tether, and some of the TOP altcoins allows us to easily spot whether BTC and/or the whole market is dropping or growing.
Most important tickers you should always pay attention are:
- CRYPTOCAP:USDT.D ticker: This is the USDT market share (dark green in chart). When USDT market share raises we might be close to a big dump. Capital flows from to USDT for protection. Conversely when USDT market share decreases, we see BTC and altcoins pump.
- CRYPTOCAP:BTC.D: This is the Bitcoin dominance (orange line in chart). When BTC market share rises, it means Bitcoins is doing or preparing for big move (either upside or downside). Investors are more cautious and go from altcoins back to BTC. When BTC market share decreases, it usually means Investors are taking riskier opportunities and capital flows from BTC to alts.
Note: It's very important to analyze BTC market share when USDT.D market share is dropping. This means the capital inflow is coming back to the market. Is it coming back to Bitcoin? Or any other alt? Is Bitcoin moving with enough volume? or is Bitcoin moving sideways consolidating while altcoins are pumping? What tether dominance is doing?
Did you know about this information? Did you ever read the market share (dominance) for any coin besides its USD value?
I have prepared myself a market monitor that alerts me whether market share is rising fast or dropping fast for any coin. And I'm sending these alerts directly to my phone by a telegram chat. This has been great for me to make better trading decisions.
And you, How would you use this information in your trading?
2021 2nd look at marketcaps for Bitcoin and Altcoins12,553,081,000,000 altcoin marketcap
4,650,000,000,000 Bitcoin marketcap
If Altcoins do the same percentage gains at end of 2017 beginning of 2018 then we could see a spike in the market cap as high as $12 Trillion plus if we follow the Beam Bands of the last bull run. I know this is a little too much to expect but with all the information we have on the financial direction globally I would not put this a mere fantasy. Bitcoin reaching anything above $250k would bring its market cap to about $4.6 Trillion or so and if it is commanding a 30% control then it would make sense for Altcoins to reach this insane $12 Trillion market cap if it commands 60% of total market share. I know this is a lot to think about. Notice how we go above this Beam Band by about 322%. This happened in the last bull run where Bitcoin went outside the Beam Bands by about 322% so I am just thinking that this could happen again but of course, there is no certainty but only speculation.
Bitcoin dominance soon resume uptrend, altcoin gradually die outDuring 2017 altcoins mania led by ETH, Bitcoin market cap dropped to 35% because speculators poured in fanatically buying altcoins or shitcoins, thereby pushing high market share of altcoin. Many of those coins disappeared in the subsequent bear market over 2018. The whole crypto market has staged a rebound since April 2019, and this time the huge upswing was led by Bitcoin, overshadowing altcoins such as COINBASE:ETHUSD COINBASE:EOSUSD .
Having bottomed out at the beginning of 2019, the market dominance of Bitcoin (%) steadily increases and the trend is very clear. More noticeable is that Bitcoin market dominance doesn't change much, providing that recently Bitcoin has suffered a significant setback of dropping from 13500 to 8000. The only reasonable explanation, which many have realized, is altcoins slump together, or even more. Bitcoin market dominance probably resumes uptrend and reaches 80% soon.
