RATE Group | Bitcoin dominance in play for a full bull run
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Bitcoin dominance in play for a full bull run

05 Feb Bitcoin dominance in play for a full bull run

Posted at 11:45h in Ethereum News by

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  • Bitcoin’s dominance chart now sets the future for the entire market.
  • XRP comes into play and moves strongly to take over from the big two, Bitcoin and Ether.
  • Bitcoin could go into a lateral-bullish mode for a few days.

Bitcoin is testing the bullish trend of the chart’s dominance over the rest of the market. The guideline has its origin in January 2018, where it started after the strong upward movement at the end of 2017.

This chart is critical to understand where the crypto market is and where it can go.

Scenario a: 

Bitcoin continues to increase its dominance over the market. This continuation of the trend would cause a slowdown in the excellent performance of Altcoins and capital would flow into Bitcoin. In a future moment, the dominance level would be very deviated from the trend line, and the movement would revert as it already happened in September 2018 and 2019. This reversal to the trend would bring improvements for the Altcoins.

Scenario…

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