The Market Reversal
The Bitcoin and Crypto market is highly volatile and I'll explain why I'm saying it because a few days back the entire market was in red colour and now it is green however there has not been any significant increase in the price but the overall sentiments are kind of reversed. I even published about that when almost every coin was showing in red colour but today the situation has been reversed completely where only a few coins are visible in red colour and others are in green colour.
The Bitcoin price is pretty much close to 105K US dollars with a dominance of 63.74% which is pretty much close to 64% generally when the price of Bitcoin is higher this dominance goes down and if the alt cycle begins then it will drop even further. I remember that in the last cycle when Bitcoin made its all-time high that time its dominance was somewhere around 50% to 55% so I expect this time also when the alt rally will begin the same kind of dominance can be seen in the market for Bitcoin.
In the heat map chart that I have shared, you can see that most of the points are in green colour but the percentage is not very high and generally with popular points it is about 1% and slightly more than that that has put the coin in green colour so the market has not gone up but surely some sort of sentiments are changed which shows that things are looking pretty much stable and maybe there is nothing much to worry about.
In social media, as of now the argument between the Tesla founder and US President Donald Trump is the biggest discussion and a lot of people are speculating that it will hurt the market. At this point, we don't know how things are going to take shape but looks like something is breathing which is not good for the crypto market and maybe that is the reason why people are a little bit in fear and do not want to invest anymore else we have seen that how Bitcoin has started rallying just a few weeks back but now it is in the downtrend and currently it is in the stable state. What are your thoughts about it and do you think that this social media fight will bring some positive or negative impact in the market?
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The Market Reversal is a great post you have shared.
The Market Reversal, this post is very nice, I hope you will continue to share good posts with us like this, thank you.