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RE: Bitcoin Dominance and the Emergence of “Others”
There might be a sudden fall in Bitcoin's dominance (like in January), and it will let the alts thrive.
This was on 11 August, one year snapshot:
Click here to enlarge the image
Cheers!
Very true. As you can see from the previous data whenever there is no confidence in the market, Bitcoin gains the dominance while butcherinng the altcoins. Once Bitcoin gains considerable dominance and market stabilises it leads to increase in price of Bitcoins, Altcoins rise up at a faster scale and Bitcoin dominance comes down again. We have seen this happening in multiple cycles. When you see red move to Bitcoin and once market stabilises move to altcoins might be a good strategy. I am learning more about stop losses so that I can set up auto trades based on this criteria.
Indeed, especially if you're trading in 'sats', or to gain Bitcoin value and not fiat.