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Title: Bitcoin Dominance Update Post by: zopim savo on April 23, 2021, 06:30:01 PM 06:30:01 PM 04/24/21
Bitcoin Dominance Update https://i.postimg.cc/kXZsmr2h/IMG-20210424-182706-929.jpg Bitcoin Dominance is bouncing from the long horizontal support line and also tests the psychological support of 50%. There are two possible scenarios now. The first one is that Dominance bounced from here and test the 58% resistance area and if breaks above it we see a retest of 64% resistance area. In that case, alts will bleed in the BTC pair. The second case is that Dominance breaks and closes below the 50% area. That will trigger the targets of 45% area and after that 40% area. This is bullish for alts and we see a good altseason in BTC pair. However, there is a low probability that Dominance goes to the 40% level sooner. Alts market is going parabolic since January 2021 and we see huge gains in the alts market already. Check any altcoin chart and you see a parabolic move without any correction. We expecting a correction in the alt market before the next rally start. We will continue to find TA + FA gems that will give good returns in every situation. Happy Earning 😊 https://1.bp.blogspot.com/-o1np3vfW26U/YIRwMrsea1I/AAAAAAAAJV4/uN7LJWsC4_8bmE0GggiT8FJJn1NXpFAZACLcBGAsYHQ/s953/IMG_20210425_021919_031.jpg update 04/24/2021 Fear & Greed Index is now at fear zone. The last month and week has extreme greed and that is one of the reason for the correction. Now the Fear & Greed index is reset and we may see some accumulation here. Strong hands holding and buying more while inexperience traders selling in panic. Title: Re: Bitcoin Dominance Update Post by: dansus021 on April 24, 2021, 03:51:24 AM Title: Re: Bitcoin Dominance Update Post by: pooya87 on April 24, 2021, 04:06:56 AM That's market cap ratio not dominance and it only goes up whenever bitcoin price is stable and/or altcoins are pump and dumping hard. For example before this recent drop bitcoin was moderately stable so altcoins pumped hard and as bitcoin price came down a little the altcoin bloodbath started so they dumped hard and the market cap ratio went back up again.
It is meaningless nonetheless. Shitcoins are pump and dumping like always regardless of what the total ratio (dividing the real bitcoin market by nearly 10k shitcoin's market cap) is! Title: Re: Bitcoin Dominance Update Post by: hd49728 on April 24, 2021, 05:33:01 AM That's market cap ratio not dominance and it only goes up whenever bitcoin price is stable and/or altcoins are pump and dumping hard. For example before this recent drop bitcoin was moderately stable so altcoins pumped hard and as bitcoin price came down a little the altcoin bloodbath started so they dumped hard and the market cap ratio went back up again. Bitcoin dominance will be fallen because the bull market brings many new shit coin projects to the total marketcap. Shit coin can have a marketcap rise 10x, 100x in a hour and fall back as fastly as that. Their pumping marketcap can last days or weeks and they can create a net effect of shit cap. Bitcoin will get it has and how it dominates the marketcap when the bull run of altcoin stops. Especially when the crypto market has another bear market.Quote It is meaningless nonetheless. Shitcoins are pump and dumping like always regardless of what the total ratio (dividing the real bitcoin market by nearly 10k shitcoin's market cap) is! Bear market will take the masks of altcoins down and their real values will be shown. Their total marketcap will be divided 50x, or 100x.Title: Re: Bitcoin Dominance Update Post by: Tytanowy Janusz on April 24, 2021, 06:20:54 AM Why people use TA on charts that are not based on supply and demand? Only because you can draw lines on chart does not mean you should. This chart moves completely random because it is only the resultant of BTC value and altcoins value, when total altcoins value is not even directly based on supply and demand since every day dozens of new coins appear and boost this number. So supports/trends lines does not makes sense.
https://i.imgur.com/SzBhFpi.png Title: Re: Bitcoin Dominance Update Post by: virasog on April 24, 2021, 06:33:13 AM 06:30:01 PM 03/24/21 Bitcoin Dominance Update Bitcoin Dominance is bouncing from the long horizontal support line and also tests the psychological support of 50%. There are two possible scenarios now. The first one is that Dominance bounced from here and test the 58% resistance area and if breaks above it we see a retest of 64% resistance area. In that case, alts will bleed in the BTC pair. The second case is that Dominance breaks and closes below the 50% area. That will trigger the targets of 45% area and after that 40% area. This is bullish for alts and we see a good altseason in BTC pair. However, there is a low probability that Dominance goes to the 40% level sooner. Alts market is going parabolic since January 2021 and we see huge gains in the alts market already. Check any altcoin chart and you see a parabolic move without any correction. We expecting a correction in the alt market before the next rally start. We will continue to find TA + FA gems that will give good returns in every situation. Happy Earning 😊 I don't think that bitcoin dominance will keep on decreasing. It will bounce back from the support before going further down. If the bitcoin dominance increase with bitcoin price also decreasing, then it means that money is moving out of crypto and altcoins will bleed. Title: Re: Bitcoin Dominance Update Post by: noormcs5 on April 24, 2021, 06:38:05 AM Why people use TA on charts that are not based on supply and demand? Only because you can draw lines on chart does not mean you should. This chart moves completely random because it is only the resultant of BTC value and altcoins value, when total altcoins value is not even directly based on supply and demand since every day dozens of new coins appear and boost this number. So supports/trends lines does not makes sense. Technical analysis show the trend of the market and based on this, you can predict the future moves in the market. However, nothing is 100% predictable, but TA can help you make better trades. Just try to make two trades, one with support of TA and other one without TA, the probability of success is greater with trades taken with help of TA. Title: Re: Bitcoin Dominance Update Post by: Tytanowy Janusz on April 24, 2021, 08:09:56 AM Technical analysis show the trend of the market and based on this, you can predict the future moves in the market. However, nothing is 100% predictable, but TA can help you make better trades. Just try to make two trades, one with support of TA and other one without TA, the probability of success is greater with trades taken with help of TA. "Just try to make two trades, one with support of TA and other one without TA," ... Man I'm leaving from trading/investing for 4 years, trading/investing for more than 6 years. I did thousands of trades. Dozens of investments. "try to make two trades" XD 1- TA gives statistic advantage ... yea ... lets say 40:60 (fail:success) ok? So you need to do at least 50-100 trades to jump out of "small sample error" and you need to be perfect with each of them. 1 mistake and you are no longer at 40:60. It does not work on "Just try to make two trades" 2- When I was starting my journey with investing, trader with 30 year experience said to me: "If you want to play technical, check if chart was moving technical". Simply some charts moves from upper band to lower, are easy to trade. Like this one: https://i.imgur.com/3d8prV0.png Some are to affected by emotional investors - like most shitcoins now, especially low caps and are uchartable. Some are just the resultant of 2 other charts and moves close to random. Title: Re: Bitcoin Dominance Update Post by: michellee on April 24, 2021, 09:37:35 AM Well, we better wait and see when bitcoin dominance will go up.
Meanwhile, we can enjoy this moment by analyzing or watching the market moves because I think the market is now really unpredicted. Last night I watch the altcoin moved, and the movement is not too good to trade, but if you want to buy and hold, I think that still okay to do. But I guess we will see a pump and dump scenario soon, so be careful. Title: Re: Bitcoin Dominance Update Post by: zopim savo on April 24, 2021, 11:22:52 AM 06:30:01 PM 03/24/21 Bitcoin Dominance Update Bitcoin Dominance is bouncing from the long horizontal support line and also tests the psychological support of 50%. There are two possible scenarios now. This is the comparison of the 2017 bull run and 2021 bull run. The above chart is of the 2017 bull run where BTC take the support of 50 MA (yellow line) multiple times and finally broke below it and tested the 111 MA (orange line). After the test of 111 MA, BTC bounced back and started a new rally. The same pattern is found in the 2021 bull run. BTC tested the 50 MA multiple times and broke below it and tested the 111 MA. BTC is now all set to start a new rally. History rhythms itself and if the chart repeats we see $100,000 in the next 2-3 months. Keep Learning, Keep Earning😊 The first one is that Dominance bounced from here and test the 58% resistance area and if breaks above it we see a retest of 64% resistance area. In that case, alts will bleed in the BTC pair. The second case is that Dominance breaks and closes below the 50% area. That will trigger the targets of 45% area and after that 40% area. This is bullish for alts and we see a good altseason in BTC pair. However, there is a low probability that Dominance goes to the 40% level sooner. Alts market is going parabolic since January 2021 and we see huge gains in the alts market already. Check any altcoin chart and you see a parabolic move without any correction. We expecting a correction in the alt market before the next rally start. We will continue to find TA + FA gems that will give good returns in every situation. Happy Earning 😊 https://i.postimg.cc/kXZsmr2h/IMG-20210424-182706-929.jpg This is the comparison of the 2017 bull run and 2021 bull run. The above chart is of the 2017 bull run where BTC take the support of 50 MA (yellow line) multiple times and finally broke below it and tested the 111 MA (orange line). After the test of 111 MA, BTC bounced back and started a new rally. The same pattern is found in the 2021 bull run. BTC tested the 50 MA multiple times and broke below it and tested the 111 MA. BTC is now all set to start a new rally. History rhythms itself and if the chart repeats we see $100,000 in the next 2-3 months. Keep Learning, Keep Earning😊 Title: Re: Bitcoin Dominance Update Post by: noormcs5 on April 25, 2021, 11:15:11 PM Well, we better wait and see when bitcoin dominance will go up. Meanwhile, we can enjoy this moment by analyzing or watching the market moves because I think the market is now really unpredicted. Last night I watch the altcoin moved, and the movement is not too good to trade, but if you want to buy and hold, I think that still okay to do. But I guess we will see a pump and dump scenario soon, so be careful. The altcoin market is not tradable at this moment. As the altcoins are not pumping at all but are mostly dumping as soon as bitcoin dumps a little. Its better to stay away from the market until bitcoin makes it next move. Either bitcoin should move above 53K or dump to the 45K level. After that, we may see some momentum in altcoins. Title: Re: Bitcoin Dominance Update Post by: zopim savo on April 26, 2021, 04:01:24 PM 06:30:01 PM 04/24/21 Bitcoin Dominance Update https://i.postimg.cc/kXZsmr2h/IMG-20210424-182706-929.jpg Bitcoin Dominance is bouncing from the long horizontal support line and also tests the psychological support of 50%. There are two possible scenarios now. The first one is that Dominance bounced from here and test the 58% resistance area and if breaks above it we see a retest of 64% resistance area. In that case, alts will bleed in the BTC pair. The second case is that Dominance breaks and closes below the 50% area. That will trigger the targets of 45% area and after that 40% area. This is bullish for alts and we see a good altseason in BTC pair. However, there is a low probability that Dominance goes to the 40% level sooner. Alts market is going parabolic since January 2021 and we see huge gains in the alts market already. Check any altcoin chart and you see a parabolic move without any correction. We expecting a correction in the alt market before the next rally start. We will continue to find TA + FA gems that will give good returns in every situation. Happy Earning 😊 https://1.bp.blogspot.com/-o1np3vfW26U/YIRwMrsea1I/AAAAAAAAJV4/uN7LJWsC4_8bmE0GggiT8FJJn1NXpFAZACLcBGAsYHQ/s953/IMG_20210425_021919_031.jpg update 04/24/2021 Fear & Greed Index is now at fear zone. The last month and week has extreme greed and that is one of the reason for the correction. Now the Fear & Greed index is reset and we may see some accumulation here. Strong hands holding and buying more while inexperience traders selling in panic. latest news, can add material to reference the development of BTC. Big news for Bitcoin🚀🚀 JPMorgan Bitcoin fund will launch this summer and JPMorgan will allow its users to invest in Bitcoin. JPMorgan is the largest bank in US. Think when it's investors get their hands on BTC. The rally is programmed. HODL your Bitcoin bags. The last wave is started. Title: Re: Bitcoin Dominance Update Post by: Wind_FURY on May 01, 2021, 08:49:28 AM That's market cap ratio not dominance and it only goes up whenever bitcoin price is stable and/or altcoins are pump and dumping hard. For example before this recent drop bitcoin was moderately stable so altcoins pumped hard and as bitcoin price came down a little the altcoin bloodbath started so they dumped hard and the market cap ratio went back up again. It is meaningless nonetheless. Shitcoins are pump and dumping like always regardless of what the total ratio (dividing the real bitcoin market by nearly 10k shitcoin's market cap) is! Give them their chance to celebrate, pooyah87. It’s a bull market, with Bitcoin on its way to a 6-digit price valuation per coin. You should be happy, and give them their few months of their happiness with shitcoins before they go back to becoming Bitcoiners again. 8) Title: Re: Bitcoin Dominance Update Post by: Ararbermas on May 01, 2021, 12:22:53 PM Well, we better wait and see when bitcoin dominance will go up. we need more results for this.. Its kinda scary but still we have no enough proofs what will happen to bitcoin. So at this point we should wait and be patient instead.Last night I watch the altcoin moved, and the movement is not too good to trade, but if you want to buy and hold, I think that still okay to do. But I guess we will see a pump and dump scenario soon, so be careful. actually I've been monitoring altcoin market since the day it makes good improvements in some coin until now.. And yes lately i don't see a good performance from it.. Maybe they are currently doing the same thing while bitcoin struggling to make pumps.. Wherein accumulating to support alts in my opinion. Title: Re: Bitcoin Dominance Update Post by: bbc.reporter on May 04, 2021, 02:59:30 AM Who is dumping bitcoin on us? Can it be speculated that this might be another insitution trimming their holdings by a certain percentage similar to what Tesla has done?
I never saw this mentioned in the forum, however, Tesla sold 10% of its bitcoin. Tesla sold some of its bitcoin (BTC, -4.1%) stash in the first quarter for $272 million in proceeds. The sale trimmed Tesla’s position by 10%, Tesla CFO Zach Kirkhorn said on an earnings call Monday. Source https://www.coindesk.com/tesla-sold-bitcoin-in-q1-for-proceeds-of-272m Title: Re: Bitcoin Dominance Update Post by: adaseb on May 04, 2021, 04:06:32 AM Tesla selling bitcoin is old news. It was originally bearish however given that they only sold 10%, people considered it pretty bullish. They sold for 2 reasons. One was to test liquidity to make sure they can exit the entire position without moving the market and the rest was they needed the cash for something else, hence why they sold some of it.
Its not bad to take profits from time to time so its understandable what they did. You all should take profits even if its just 10%. Sure it might rally from here however if it topped $65K at least you don't want to be holding the bag for years without taking any profits along the way. Title: Re: Bitcoin Dominance Update Post by: iram3130 on May 04, 2021, 09:27:39 AM Not just Bitcoin dominance decreasing day by day, ETH dominance is gaining everything which has been taken out of BTC. Most of the non-pumped coins are taking huge momentum. I am still afraid that if BTC starts moving then everything will fall like a house of cards. I am selling my alts at this moment because we all know how alt season turns out every time. ::)
Title: Re: Bitcoin Dominance Update Post by: Stanlo on May 04, 2021, 12:14:26 PM The real altcoin season is here no doubt but what will come next after this? The almighty red market ;D if you are smart this is the time to sell what you can and take profits before it's too late
Title: Re: Bitcoin Dominance Update Post by: BrewMaster on May 04, 2021, 03:29:44 PM this is a good news for bitcoin if you think about it and it is signalling the start of the big bull market that is going to be very similar to 2017.
this is showing that there are a lot of brand new investors coming into the cryptocurrency market and like always they are fooled into buying altcoins. all these investors are bringing a lot of money into this market and will eventually end up only buying bitcoin after losing some money in the altcoin game. by that time we will see the bitcoin price spike big time. Title: Re: Bitcoin Dominance Update Post by: thecodebear on May 04, 2021, 09:48:06 PM Looks like the market is retail heavy right now. Seems institutions have taken a break, hence Bitcoin chillin around $50k-$60k the past few months, normalizing that price for a while before the next leg upwards. Meanwhile new retail speculators are coming in to the market not knowing what they are doing and pumping altcoins. Ethereum is probably greatly benefiting from Coinbase opening up staking as that will be the easiest way for millions of Americans to earn income from their Ethereum.
Inevitably the altcoins are going to dump and those new retail speculators are gonna run to safety in bitcoin when they finally start to realize that ignoring bitcoin and going all in on altcoins is not a winning strategy. That said, smart contract platforms and dapps will continue to grow and take up more and more of the market. Bitcoin dominance is low now and it will surely claw back a good amount once the inevitable altcoin dump comes, but Ethereum and the winners or the smart contract space will likely take up a significant portion of the market share in the future. Title: Re: Bitcoin Dominance Update Post by: inoes on May 04, 2021, 11:12:43 PM I just hope that someday the domination of BTC will get smaller in the market, so that people will not be afraid of the BTC dump.
because the experience from the past is that if BTC dumps then the market starts to be bearish too, ... So let's start switching to some coins so that the strength of BTC decreases. and create a bullish market even longer Title: Re: Bitcoin Dominance Update Post by: bbc.reporter on May 05, 2021, 04:36:00 AM Tesla selling bitcoin is old news. It was originally bearish however given that they only sold 10%, people considered it pretty bullish. They sold for 2 reasons. One was to test liquidity to make sure they can exit the entire position without moving the market and the rest was they needed the cash for something else, hence why they sold some of it. Its not bad to take profits from time to time so its understandable what they did. You all should take profits even if its just 10%. Sure it might rally from here however if it topped $65K at least you don't want to be holding the bag for years without taking any profits along the way. I disagree. This should raise more questions because this might only be the beginning. What would stop Tesla or Ark Invest from testing the liquidity again on the 2nd quarter to make certain that they can exit their positions? We should be skeptical of this. Also, it appears that everyone is only looking at the outflows of bitcoin from Coinbase but ignore the inflows to Binance for possible dumping. https://www.viewbase.com/coin/bitcoin Title: Re: Bitcoin Dominance Update Post by: pooya87 on May 05, 2021, 05:25:59 AM I disagree. This should raise more questions because this might only be the beginning. What would stop Tesla or Ark Invest from testing the liquidity again on the 2nd quarter to make certain that they can exit their positions? We should be skeptical of this. Considering the fact that the drop below $60k had nothing to do with Tesla at all, any future sales from them is not going to change anything about bitcoin price either.Quote Also, it appears that everyone is only looking at the outflows of bitcoin from Coinbase but ignore the inflows to Binance for possible dumping. There is no such thing as "inflow" or "outflow" of coins from exchanges because the bitcoin transactions have no "intention" field inside them telling us where the coin comes from or where it goes to and more importantly why.https://www.viewbase.com/coin/bitcoin Not to mention the coins that are claimed to go to an exchange may not even go there since blockchain analysis is pretty weak. And those that are associated with going to exchange may be the exchange itself moving its coins around to and from cold storage. Title: Re: Bitcoin Dominance Update Post by: Desscount on May 05, 2021, 06:06:35 PM Bitcoin dominance is now at 45%, it looks like this is what caused the Big Cap to go up high,
BCH, ETH, DOGE, XRP, LTC, ETC are all rising rapidly by more than 10%, and it looks like this is the beginning of the altcoin season, I'm sure. the price could reach 10x easily this year. Title: Re: Bitcoin Dominance Update Post by: justdimin on May 05, 2021, 06:16:47 PM I disagree. This should raise more questions because this might only be the beginning. What would stop Tesla or Ark Invest from testing the liquidity again on the 2nd quarter to make certain that they can exit their positions? We should be skeptical of this. Considering the fact that the drop below $60k had nothing to do with Tesla at all, any future sales from them is not going to change anything about bitcoin price either.Title: Re: Bitcoin Dominance Update Post by: lixer on May 05, 2021, 08:35:19 PM We can't say that "price dropped without tesla, so we shouldn't worry about a drop with tesla". I mean it can drop without any sales from tesla that is true, but that doesn't mean that it can't drop if Tesla sells neither. This applies to all companies that have a lot of bitcoin, if they decide to sell their bitcoin that will hurt bitcoin price a lot. Not just because they sold, which in itself will definitely drop the price, but the fact that it also will create a hoard of people who will sell because of that news as well. Yeah, by combining those two things together and we are in a bad situation. This is why I believe we need to make sure we are doing fine, it is not going to be easy, but if you could manage to find a balance where you are guaranteed and leveraged against a sale that may happen from them, and also even more purchase that may happen from them.This is just buying and buying and buying so that you could get profit when it increases but having a stop loss in a good place as well. Title: Re: Bitcoin Dominance Update Post by: bbc.reporter on May 10, 2021, 03:52:21 AM I disagree. This should raise more questions because this might only be the beginning. What would stop Tesla or Ark Invest from testing the liquidity again on the 2nd quarter to make certain that they can exit their positions? We should be skeptical of this. Considering the fact that the drop below $60k had nothing to do with Tesla at all, any future sales from them is not going to change anything about bitcoin price either.Quote Also, it appears that everyone is only looking at the outflows of bitcoin from Coinbase but ignore the inflows to Binance for possible dumping. There is no such thing as "inflow" or "outflow" of coins from exchanges because the bitcoin transactions have no "intention" field inside them telling us where the coin comes from or where it goes to and more importantly why.https://www.viewbase.com/coin/bitcoin Not to mention the coins that are claimed to go to an exchange may not even go there since blockchain analysis is pretty weak. And those that are associated with going to exchange may be the exchange itself moving its coins around to and from cold storage. However, what dumps the price if it is not whales dumping on the market? Also, I was only speculating if these liquidity tests from Tesla might be tested again. Is this not possible? It can be then argued that those outflows are not real outflows, only coins of exchanges from hot wallets to cold storage? Title: Re: Bitcoin Dominance Update Post by: Reatim on May 10, 2021, 04:24:38 AM Bitcoin dominance is now at 45%, it looks like this is what caused the Big Cap to go up high, Obviously we can see that Whales are playing with altcoins now since they cannot manipulate bitcoin price anymore.BCH, ETH, DOGE, XRP, LTC, ETC are all rising rapidly by more than 10%, and it looks like this is the beginning of the altcoin season, I'm sure. the price could reach 10x easily this year. so what they do is use altcoins to at least Starts to Bag newbies and Noobs Money. in the past they tend to create somewhat Altcoin season after bitcoin bullrun and bring BTC value to the lowest but now? domination of bitcoin still showing strong while some altcoins are pumping good. Title: Re: Bitcoin Dominance Update Post by: bbc.reporter on May 10, 2021, 04:33:19 AM @Reatim. The biggest whale in the world is playing with dogecoin. It appears that this matters much more than the technology. The maximalists can cry that dogecoin does not have independent mining or active development but did that stop the pump?
SpaceX launching satellite Doge-1 to the moon next year – Mission paid for in Doge – 1st crypto in space – 1st meme in space To the mooooonnn!! Source https://mobile.twitter.com/elonmusk/status/1391523807148527620 Title: Re: Bitcoin Dominance Update Post by: Gozie51 on May 12, 2021, 04:12:26 PM I am still afraid that if BTC starts moving then everything will fall like a house of cards. I am selling my alts at this moment because we all know how alt season turns out every time. ::) This time has been predicted to be different from the 2017 market season because the system has changed from a mono investing market to a more open market that big buyers are also playing on. So you won't expect that kind of slump where bitcoin came down from $20,000 to below $4,000. Don't be surprised that many pending buys are just below the current price maybe at $50,000 or within the range. I would hodl more valuable project. Title: Re: Bitcoin Dominance Update Post by: mrjoy15 on May 12, 2021, 04:58:29 PM Bitcoin price falls again due to psychological price level at $60K, can buyers break $60k resistance level? $54k support level quite strong, every time bull back from here. But to be honest, I'm planning accumulate forever now. Be sure to HODL through the upcoming events. If the price drops buy way more. Lowering Bitcoins dominance, lead boost Ether price next alts.
Title: Re: Bitcoin Dominance Update Post by: BrewMaster on May 12, 2021, 05:49:01 PM i have a feeling that the altcoin pumping hype is near the end, but i may be wrong. i say this because for the past couple of days there has been a small increase in the number of onchain transactions of the mot hyped altcoins that have been pumping, namely DOGE and ETH and their fees have been outrageously high compared to the past and it is rising so fast too. this could escalate and lead to a bubble burst.
if that burst happens we can expect another wave of shitcoin pumps where they sell these shitcoins and start buying some others or they may migrate back to bitcoin and dump all altcoins. Title: Re: Bitcoin Dominance Update Post by: monineklutak on May 12, 2021, 10:33:18 PM i have a feeling that the altcoin pumping hype is near the end, but i may be wrong. i say this because for the past couple of days there has been a small increase in the number of onchain transactions of the mot hyped altcoins that have been pumping, namely DOGE and ETH and their fees have been outrageously high compared to the past and it is rising so fast too. this could escalate and lead to a bubble burst. we will not know whether this year will be the same as a few years ago? if that burst happens we can expect another wave of shitcoin pumps where they sell these shitcoins and start buying some others or they may migrate back to bitcoin and dump all altcoins. It has been seen that the Altcoin price has experienced a high increase, for example Ethereum, and several other large caps, ADA, ETC, DOGE, BCH have also experienced high increases, but like low coins the current stamp is not many that have not increased, Title: Re: Bitcoin Dominance Update Post by: STT on May 12, 2021, 11:59:58 PM Worlds richest man calls out BTC for its POW (https://twitter.com/elonmusk/status/1392602041025843203?s=21) system, relevant imo because ETH is in transition to proof of stake which I'd think qualifies as something of a greater efficiency. Obviously the debate between all alternatives is not simple but if we are discussing the interplay in various crypto standards then we got consider ongoing questions by the wider public. These massive price gains in crypto rely on that wider public for involvement so expect more kickback on things that have been normal in crypto for years, more shakeups, volatility and change is fair to expect imo.
Title: Re: Bitcoin Dominance Update Post by: bbc.reporter on May 13, 2021, 01:57:31 AM Was there another liquidity test from Tesla again hehehe? This will certainly appear to be an Elon rugpull on bitcoin if they are dumping.
In any case, I posted this in a press subforum thread. It might not be a bear market yet, however, this might indicate that we might be near the beginning. The last time there was a bearish divergence with MACD in an elevated level for the price of bitcoin was on January 2018. https://i.ibb.co/ZJN3s6v/88-BCDB4-A-9355-4-DF0-96-FA-6-F6-BCEA69126.jpg Title: Re: Bitcoin Dominance Update Post by: adaseb on May 13, 2021, 02:51:48 AM There are alot of indicators that are pointing to the fact that we might be near the top or the top was $65K. Look at how alt coins are pumping lately like Doge, BCH, XRP, EOS, etc. Also look at how people are pouring billions of dollars into joke coins like SHIBA or ELON or AKITA or others.
People on Tiktok are investing $100 and turning that into pretty much $10,000 just by following some 12 year old kids pumping all these tokens. This is pretty much a repeat of ICOs back in 2017. Basically any ICO back then got bought up like crazy and people made crazy sums of money by doing nothing. This time its no different. Its still too early to tell, it looks like the market might be back on traction after his tweet. Very strange tweet indeed. Most likely it was his board that made him post that. Title: Re: Bitcoin Dominance Update Post by: Fundamentals Of on May 13, 2021, 03:48:19 AM There are red candles all over the charts. Strong red blood is covering both Bitcoin and altcoins. This is probably going to be much worse for altcoins rather than for Bitcoin. The strong altcoin bulls must have already weakened, signaling huge amount of funds to be moving from altcoins toward Bitcoin anytime soon. As a result, I am shortly looking forward to Bitcoin dominance entering 50% once again in the next few days.
Title: Re: Bitcoin Dominance Update Post by: pooya87 on May 13, 2021, 05:10:30 AM It might not be a bear market yet, however, this might indicate that we might be near the beginning. The last time there was a bearish divergence with MACD in an elevated level for the price of bitcoin was on January 2018. Just because someone manipulates the market and causes a short term panic sell and even possibly a downtrend for a short time that doesn't mean it is the start of a bear market specially nothing like 2018 bear market since that was because of the big bubble burst at $20k. We are not even close to seeing a bubble in the horizons let alone having a bubble to burst and cause a 2018-like bear market!!!Title: Re: Bitcoin Dominance Update Post by: bbc.reporter on May 14, 2021, 05:26:48 AM @pooya87. I never said that Elon’s tweet would cause the beginning of the bear market similar to 2018. My post included a chart that shows what happened after a bearish divergence in the MACD when bitcoin’s price was on an elevated level. Also, I never said that this certainly indicates the beginning a bear market.
What I am afraid of with Elon’s new position towards bitcoin is this might discourage other institutional buyers from buying bitcoin or if they had plans to buy, they would cancel it. In any case, there is also a bullish divergence in the RSI which might indicate that the dumps are weakening. https://i.ibb.co/HYnT6Xz/469599-B0-ECAB-4742-98-BE-7-CF928323-A1-F.jpg Title: Re: Bitcoin Dominance Update Post by: lixer on May 14, 2021, 05:55:36 PM I never said that Elon’s tweet would cause the beginning of the bear market similar to 2018. My post included a chart that shows what happened after a bearish divergence in the MACD when bitcoin’s price was on an elevated level. Also, I never said that this certainly indicates the beginning a bear market. What Elon did was stop accepting bitcoin for selling tesla cars and I think that is something that the board of directors (if they have one, or whatever else they have) wanted and that's it. Obviously they couldn't say "our shareholders didn't want bitcoin so we are stopping" so he showed another reason, he knew that bitcoin mining was something that spent electricity which is usually what those companies give them, if they could find cheaper renewable energy miners would have used that, it is not their problem how they get it as long as they get it and its cheap.What I am afraid of with Elon’s new position towards bitcoin is this might discourage other institutional buyers from buying bitcoin or if they had plans to buy, they would cancel it. In any case, there is also a bullish divergence in the RSI which might indicate that the dumps are weakening. https://i.ibb.co/HYnT6Xz/469599-B0-ECAB-4742-98-BE-7-CF928323-A1-F.jpg However reality is that Elon is not moving away from bitcoin, he said that they are not going to sell their bitcoin, they are just not going to accept bitcoin and those are different things. Which is why I think the drop didn't make any sense, he is against miners, not currency itself. Title: Re: Bitcoin Dominance Update Post by: bbc.reporter on May 15, 2021, 05:32:41 AM @lixer. It is presenty very hard to trust Elon after his rug pull on bitcoin. It will certainly not be surprising anymore if Tesla sold another 10% of their total bitcoins held to test liquidity on the next quarters if there is another pump to $60k.
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