Bitcoin is in the driver's seat! The Crypto Dominatrix
Bitcoin is putting a serious hurt on the rest of the crypto markets this fine Monday morning. It's bust above 40K was powerful and hasn't given much look of slowing up.
What I am looking at is the Bitcoin Dominance. WIth it pumping over 54%, this means the the majority of the money in the entire cryptocurrency industry is flowing into the top coin, for now. Once people have had their fill and the price finds a supply zone, selling will start occurring again. When this happens, that's when it's best to start hitting the major altcoins and let them absorb some of the market share for a while.
The Bitcoin Dominance chart is certainly one that any crypto trader needs to watch, whether you are a maximalist, or someone like me who doesn't date it, I just trade it!
What I am looking at is the Bitcoin Dominance. WIth it pumping over 54%, this means the the majority of the money in the entire cryptocurrency industry is flowing into the top coin, for now. Once people have had their fill and the price finds a supply zone, selling will start occurring again. When this happens, that's when it's best to start hitting the major altcoins and let them absorb some of the market share for a while.
The Bitcoin Dominance chart is certainly one that any crypto trader needs to watch, whether you are a maximalist, or someone like me who doesn't date it, I just trade it!
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