Bitcoin Is Getting Stronger Again, Its Dominance Keeps Rising!
Bitcoin is back, gaining strength on the market once again while diluting the value of most altcoins against itself. It´s an old game already in the cryptocurrency market, a cycle that keeps coming up over and over again.
Below you may see the market dominance of Bitcoin, which is currently sitting at more than 41.5% again already after the lows around 33% in early January. Based on previous cycles it can be expected to raise even higher to values between 45 - 50%.
That being said I´m currently moving some of my altcoin positions back into Bitcoin, hoping to achieve some small profits along the rally of the BTC dominance. Just according to the strategy of selling high and buying back in low, let´s hope it works out this time xD
What´s your opinion?
Is Bitcoin going to dominate the market again?
(Please note that the above only reflects my personal opinion and is no trading or investment advise after all. Always do your own research before putting your money at risk!)
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Bitcoin needs to go back up only then will the other coins gain momentum and rise as well because they are all tied to bitcoin's success!
wow thank you.
exactly, as bitcoin goes so goes the STEEM
Agreed. Ultimately for this stage of the cryptocurrency market this is true. People should get behind bitcoin because we can't expect mainstream investors to enter the market if the most well-known cryptocurrency is performing poorly. Over time the reliance on bitcoin will evaporate but for now Bitcoin's success is paramount to the crypto ecosystem as a whole.
Bitcoin is going to shine for awhile, especially with everyone adopting SegWit, and if they can actually get Lightning to work on a user level, expect Bitcoin to at least double in price and adoption.
Bitcoin will keep dominating the markets for a long time, I think. It still has the clear advantage of being the first, original cryptocurrency and it'll keep benefiting from that.
I agree that moving some of your alts into Bitcoin is a pretty good move right now.
With some big new about some new coin this March, I beleive bitcoin will go up again to 15 ~16K on this March or April.
This year will be for cryptocurrency . Hope everyone will make more. ^^
It turns out that not only Bitcoin is free-falling, almost all Cryptocurrency has decreased significantly. Either Ethereum, Ripple, Litecoin, and various types of Cryptocurrency is experiencing a pretty decent decline. Various parties have analyzed that Cryptocurrency phenomenon that triggered by Bitcoin is only a momentary phenomenon, or the cool word is a Bubble phenomenon. Why is it said Bubble phenomenon? Because like a soap bubble, can at any time broken and destroyed.Even one equate Cryptocurrency phenomenon is like Tulip flower phenomenon in the Netherlands hundreds of years ago. Tulip flower phenomenon horrendous Europe to raise the price of Tulip flowers until many times the price should be. Until finally the bubble burst and the price Tulip back as before, and left many people who lost money. However, there are other experts who say that the phenomenon of Cryptocurrency is like the phenomenon of Gold or Gold Rush in America in the 1800s. Where people in the race to dig gold until the value of gold increased sharply. But unlike the Tulip, gold is still used as the basis of the exchange rate, so its value is rarely down.
Think you're kinda late to buy BTC now, i mean, you could take profits, but the dominance will fall off very soon, we are at the dominance % peak right now.
It weaken my bitcore... but looking at the biggest picture the strength of btc will push alts to moon.
Incredible market today, For Bitcoin currents, Bitcoin is very good.