Bitcoin Dominance excludes ICOs because they are each controlled and issued by a centralized entity and so therefore cannot act as hard money. Even if the ICO intends to be money, it cannot offer any improvement over the current fiat system of centralized banking and money printing. Why does Bitcoin Dominance exclude stablecoins? Dec 30, · Crypto Market Indecision: Bitcoin Dominance To Close With A Doji Candle From the cryptocurrency bear market bottom to current prices, altcoins have been left in Bitcoin’s dust. The leading cryptocurrency by market cap has led the bullish charge, and already is trading almost $10, above its former all-time high. I'm an XRP fan all day, but this BTC dominance chart shows that Bitcoin is setting up to explode to new levels of dominance, leaving all others in the dust! Here on the weekly BTC dominance chart, we can see that BTC dominance has printed a series of inverted head and shoulders patterns.
Bitcoin dominanceBitcoin Dominance Index Chart — TradingView
But that moment has come and gone, and while there have been some glimmers of positive momentum, the asset class as a whole is lagging behind BTC. But altcoins are nowhere in sight, and not even in the rearview of Bitcoin at this point. Doji are dangerous because they signal indecision and make choosing a direction less clear. They form at the top of trends when they are reversing or just before continuation when a market takes a breather. It could also act as a point where dominance turns around, Bitcoin bleeds or stagnates, and altcoins rocket off into the sunset.
The idea might sound unreasonable with all of the projects in the crypto market compared to Bitcoin, but the sentiment surrounding altcoins keeps getting worse. Few have lived up to any of the promises made three years ago, while Bitcoin has taken on an entirely new narrative that has caught on in a major way. Failure to produce any sort of FOMO like the last alt season , even after BTC taking out its all-time high, has holders questioning their position. The price action due to institutions being so bullish on Bitcoin compared to altcoins could be forming a massive, multi-year ascending triangle pattern on BTC dominance.
And if this pattern triggers to the upside, altcoins are doomed in I'm Tony Spilotro. Behind the pseudonym, I'm a digital media executive and global remote work leader with a decade of content experience and excellent. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views.
I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally — to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution.
While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me.
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The first one will likely be between February and June. Looks like this bearish scenario from a previous idea is still in play albeit with a different potential measured target. Broke previous high but is currently reversing. Looks like a double-top reversal in the making to me.
We all know the routine here. Neckline is key support for the BTC dominance bulls. That's a huge drop so again, will believe when I see D is below Trendline support now! Also BTC is going to have a correction on next days, So we expect more falls from it.
Attention : this is not a financial advise we just try to help people on their own vision. We Need This! D either reversal alts loose steem or continuation down alts gain momentum What do you think? If BTC. D start move down and Bitcoin sustain on actual price or start to grow, we can see nice grow in some altcoins Algo start pump :D.