Bitcoin Dominance Chart leading to possible Alt coin rally
Using past data and performance I laid out a pattern which follows the current downtrend and ties in with Support and resistance levels. The main thing about the BTC dominance chart is that a decline in BTC market cap has a strong correlation to an increase in the value of altcoins - I use this chart as a confluence to determine the bias on XRP price action.
Once we start testing the 55% zone and breakthrough, I am expecting a bull run on the alts. Possibly similar to the 2017/2018 run, but bigger considering the exposure cryptos have been getting with certain bank regulations and the ease at which cryptos can be bought and sold compared to the previous bull run.
Once we start testing the 55% zone and breakthrough, I am expecting a bull run on the alts. Possibly similar to the 2017/2018 run, but bigger considering the exposure cryptos have been getting with certain bank regulations and the ease at which cryptos can be bought and sold compared to the previous bull run.