Altcoins potential to start rally!
As pointer before by others, Altcoins may be about to start their bullish rally.
The 3 charts indicate:
BTC price history,
BTC dominance (%)
Altcoin dominance ( minus ETH, BTC, in %)
What we see in the chart are 2 possible escenarios:
1- BTC has reached top and is about to drop, like in 2016, leading to the rise in dominance of altcoins.
2- BTC has not reached top, but the incoming BTC short rally will come together with a bigger rally (in relative terms) for the alcoin market. In other words, the BTC price action will be parasited by a capital flip to altcoins.
Keep in mind always may happen a 3rd scenario, risk is always present:
3-BTC has reached its top and will start bear market, plus Altcoins will never see a true bullish market from now on. This is particularly probable, since politics and economics in US has turned in favor of BTC mainly, leaving "most" of the altcoin market as not recognized can be a very bad thing for investor, who are eager to reduce the huge risk this crypto market implies.
DISCLAIMER:
Remember, all of this is speculation of my own, based on others analysis. You are responsible for doing your own research, and this is not a financial advice. This only represents my sentiment and opinion in the market. I do hold several crypto-curriencies, including BTC. You are responsible for your own loses.
Happy trading !
:)
The 3 charts indicate:
BTC price history,
BTC dominance (%)
Altcoin dominance ( minus ETH, BTC, in %)
What we see in the chart are 2 possible escenarios:
1- BTC has reached top and is about to drop, like in 2016, leading to the rise in dominance of altcoins.
2- BTC has not reached top, but the incoming BTC short rally will come together with a bigger rally (in relative terms) for the alcoin market. In other words, the BTC price action will be parasited by a capital flip to altcoins.
Keep in mind always may happen a 3rd scenario, risk is always present:
3-BTC has reached its top and will start bear market, plus Altcoins will never see a true bullish market from now on. This is particularly probable, since politics and economics in US has turned in favor of BTC mainly, leaving "most" of the altcoin market as not recognized can be a very bad thing for investor, who are eager to reduce the huge risk this crypto market implies.
DISCLAIMER:
Remember, all of this is speculation of my own, based on others analysis. You are responsible for doing your own research, and this is not a financial advice. This only represents my sentiment and opinion in the market. I do hold several crypto-curriencies, including BTC. You are responsible for your own loses.
Happy trading !
:)
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Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.