Bitcoin Is Still Dominating In The Crypto Market

BITCOIN and most of the ALTcoins have seen a deeper decline in the last couple of months, mainly because BTC has been losing its dominance. But, after that strong BTCUSD bounce, it seems like BTC Dominance is back, especially if we take a look in the BTC.D chart in which we see a corrective decline from the highs. So, we believe that BTC Dominance might be back in the game and BTCUSD may outperform ALTcoins again which can be clearly seen in the ETHBTC chart. As you can see, we are still tracking a corrective wave iv here that can send the price back to the lows for wave v of 5 towards 0.014 area.

If we are on the right path, then BTC Dominance could be leading for a while, but once BTC.D comes into new highs and ETHBTC into new lows, then we can expect a bounce and reversals, maybe even ALT season.

BTCUSD Dominance, Daily

(Click on image to enlarge)

ETHUSD vs BTCUSD, daily

(Click on image to enlarge)

 

How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.