An overlook of the Crypto markets: Bitcoin and everything Else
Hello All,
I think its time to address the Elephant in the room. Ever since this whole crypto experiment was on the brink of collapse just two years ago, it has amazed me how Bitcoin managed to keep its monopoly on the Crypto market cap for this long. However, while I think Bitcoins price actions has substantial impacts on the overall market, that sentiment is beginning to weaken. Not only has Bitcoins market share dominance dropped by 18%, but since the turn of the new year, Altcoins and Ethereum have been overall outperforming Bitcoin. Matter of fact, the DMI, VFI, and BTC short/long indices are all pointing towards continuous , accelerating growth. As per my current analysis I think Bitcoin might cross below 50% market dominance and never cross above again.
I think its time to address the Elephant in the room. Ever since this whole crypto experiment was on the brink of collapse just two years ago, it has amazed me how Bitcoin managed to keep its monopoly on the Crypto market cap for this long. However, while I think Bitcoins price actions has substantial impacts on the overall market, that sentiment is beginning to weaken. Not only has Bitcoins market share dominance dropped by 18%, but since the turn of the new year, Altcoins and Ethereum have been overall outperforming Bitcoin. Matter of fact, the DMI, VFI, and BTC short/long indices are all pointing towards continuous , accelerating growth. As per my current analysis I think Bitcoin might cross below 50% market dominance and never cross above again.
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