๐ฅ Bitcoin Dominance Rising: Bear Market Ahead!
The Bitcoin Dominance has steadily been rising since bottoming out in January earlier this year. Since then, Bitcoin has been trading sideways or bearish, which has strongly diminished investor's appetite for riskier alt-coins. This has, in turn, lead to more money being poured into BTC, resulting in a rising Bitcoin Dominance chart.
A rising BTC dominance is a general sign of a risk-off environment where alts will see stronger declines compared to BTC. This is generally the case for either short-term bearish periods of long-term bear markets.
With stocks declining and BTC not showing any signs of life, I think we can safely say that we're in a bear market and that Bitcoin dominance will see further growth, with a decrease in altcoins' value.
Be careful with your alts investments. Most are around -90% down from their all-time highs, but that doesn't mean they can't go to -99%. It has happened before in previous cycles and will happen again.
A rising BTC dominance is a general sign of a risk-off environment where alts will see stronger declines compared to BTC. This is generally the case for either short-term bearish periods of long-term bear markets.
With stocks declining and BTC not showing any signs of life, I think we can safely say that we're in a bear market and that Bitcoin dominance will see further growth, with a decrease in altcoins' value.
Be careful with your alts investments. Most are around -90% down from their all-time highs, but that doesn't mean they can't go to -99%. It has happened before in previous cycles and will happen again.
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