I?m not a technical analysis guy but came across an interesting chart. A guy on telegram showed me this chart:
As you can see, the bitcoin dominance is declining, it is at a three-year low of 40%. So, what is the bitcoin dominance? It?s a measure of how much of the total market capitalization is compromised of Bitcoin. Right now, the people are buying more altcoins instead of bitcoin or they selling bitcoin for altcoins, which is nothing alarming from my point of view. But when you zoom out, till 2018, you will see this:
Correlation or Causation? The last bearmarket started at a similar point, together with the elon musk tweetshow, the BINANCE investigation and some other news, were maybe at a crucial point and the bearmarket is incoming. I don’t want to spread fud but I this could be a good point to realize some profits. Just my 2 cents, what do you think?
