It's the king's turn, and it wants market cap dominance.
Bitcoin is poised to regain market capitalization dominance. This usually means that (the majority of) altcoins will initially start losing in their sats value.
It is now a well-known phenomenon that venture capital will first pour into Bitcoin. Once people start skimming their profits, it often flows to the other top 10 coins, then the midcap coins and finally the low caps after this. That is, until the cycle is complete again and people move their capital from the low caps back to Bitcoin or eventually to fiat.
I have unfolded the Tom DeMark Sequential on this, and it flashes a 9 and even a 13, which usually means there will be a course change.
It is now a well-known phenomenon that venture capital will first pour into Bitcoin. Once people start skimming their profits, it often flows to the other top 10 coins, then the midcap coins and finally the low caps after this. That is, until the cycle is complete again and people move their capital from the low caps back to Bitcoin or eventually to fiat.
I have unfolded the Tom DeMark Sequential on this, and it flashes a 9 and even a 13, which usually means there will be a course change.
Comment:
As we approach the critical 49.24% mark in Bitcoin dominance, also known as the 0.382 Fib, I am filled with a rush of excitement for what lies ahead. If Bitcoin's dominance experiences a decline, it could trigger an altseason in the spring, showcasing the dynamic and volatile nature of the cryptocurrency market.
I am closely monitoring whether the macro trend and the fragility and unrest surrounding banks will lead to a true hyperbitcoinization run. If Bitcoin manages to break through the Fibonacci resistance level of 0.382, it may cause a significant decrease in sats value for altcoins, which could have a substantial impact on those who hold only altcoins.
All in all, these are thrilling times in the cryptocurrency world, and I eagerly anticipate what the future holds!
I am closely monitoring whether the macro trend and the fragility and unrest surrounding banks will lead to a true hyperbitcoinization run. If Bitcoin manages to break through the Fibonacci resistance level of 0.382, it may cause a significant decrease in sats value for altcoins, which could have a substantial impact on those who hold only altcoins.
All in all, these are thrilling times in the cryptocurrency world, and I eagerly anticipate what the future holds!
Comment:
The 0.382 Fibonacci level appears to be acting as resistance at the moment. Altseason is likely on its way, potentially indicating a shift in market sentiment
However, if Bitcoin manages to surpass the 0.5 and reach the 0.382 level, alts are likely to experience a significant devaluation in satoshi value.