Crushing Bitcoin Dominance Could Decimate Altcoins Through Q1 2021
The DeFi boom and an explosion of ROI across altcoins helped bring bullish sentiment back to crypto, and it helped push Bitcoin above $10,000 and hold the key level for the longest stretch ever. But while altcoins had regained some lost ground against the most dominant cryptocurrency, BTC dominance has potentially reversed, and if closes […]
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BTC dominance has always had an inverse effect on the price movements for altcoins. Historically, BTC dominance determines the direction the value of altcoins swings in. Bitcoin has so far maintained majority dominance on the market. But as more time passes, that dominance goes down as altcoins see more demand. BTC dominance simply shows how much demand there is for bitcoin compared to altcoins. The more BTC dominance rises, the lower the demand for altcoins. This means that for altcoins to rally up further, bitcoin demand has to go down. Related Reading | Ethereum Breaks 200,000....
The Bitcoin dominance index has collapsed by 20 percentage points since the start of 2021. ETH, BNB and more speculative altcoin bets have seen their dominance rise over the same period. Bitcoin (BTC) dominance briefly fell below 50% last week for the first time since January 2018, sending a strong signal that more speculative bets on altcoins were on the rise.The Bitcoin dominance index, which measures BTC’s market capitalization relative to the broader cryptocurrency market, reached a low of 49.35% on Thursday, according to CoinMarketCap. At the beginning of 2021, BTC dominance was....
BTC.D rises in price as altcoins suffer a bloody day in crypto. BTC.D attempts to break out above 8, and 20-day Exponential Moving Averages as altcoins struggle to hold their key support. The price of BTC.D eyes a rally to 48% as this could mean more pain for altcoins. Many altcoins have experienced a relief bounce across the market as Bitcoin Dominance (BTC.D) remains below the 40% marked area allowing altcoins to rally when the market recovers. With Bitcoin Dominance (BTC.D) rising from the ashes, we could see the price of altcoins suffering more pain than expected if the price....
The crypto bloodbath continues to rage on, as bitcoin drops 13%, although to a lesser degree than what was experienced last week. Due to this, there have been several migration patterns recorded in crypto investors as they look for the best safe haven. The first had been the flight to stablecoins for cover from the unending losses. However, the tide has changed on this once again as investors look to now be flocking back to bitcoin, causing dominance to rise. Bitcoin Re-Establishes Dominance The decline has affected all cryptocurrencies in the market but data shows that some more than....
Bitcoin has had a favorable year in 2021 but the altcoins have dominated the market. The advent of the alt seasons this year had seen multiple altcoins rally towards new highs even when market-mover bitcoin had remained stagnant at times. This move, coupled with the growth and adoption that rocked the crypto space this year, has proven that the altcoins dominated the market on a large scale. Altcoins Rule 2021 So many new things came out of the altcoin industry this year and have found success at the same time. Basically, the year 2021 has been one long alt season when we look at the....