Bitcoin Dominance and Current market Situation

[arzuo]

According to the market , in my opinion
There is no new money entering Bitcoin at the moment,

👀Which is why I think Bitcoin dominance is at a stable level and money is coming out of all the low quality altcoins, some are investing in Bitcoin and some (very small number) quality coins!

🕵🏻Which is why I think the current situation is in 👉 step 3 of the following image/picture.
Please give your opinion on this situation in the market. ( That means good altcoins are in accumulation phase )

[BitGoba]

Bitcoin is money. Gold is money. The dollar is not money it is a fiat currency.Fiat currencies are debt-based credit instruments.

Please educate yourselves, because it honestly sounds ridiculous when people confuse these basic concepts. Money is something the market chooses. Fiat is something the state imposes.

[Cryptomultiplier]

All in all, this image proves how Bitcoin remains valuable and market dominant and a true asset that would always guarantee good returns over a decade long steady accumulation phase.
Any altcoins that survive the  volatility of the times stands to be a worthy altcoin and not a shit coin and that's why to know which altcoins to invest in later comes after you have accumulated enough Bitcoin and hold those best altcoins for the time when capital cascades into these coins from Bitcoin's break out as number one as the top performer crypto currency.

The key to investing in Bitcoin is always patience , discipline and risk management which would help you be on the lookout for top quality asset to invest in on the profit side whenever Bitcoin breaks out and that is shown in number 4 where true altseason begins.
Step 3 obviously shows how the weak hand die off while erasing low quality projects in the market that involves altcoins.

[Don Pedro Dinero]

Please give your opinion on this situation in the market. ( That means good altcoins are in accumulation phase )

My opinion is that there are no good altcoins. Almost all of them are pump and dump schemes and the few that aren’t are centralised, pre-mined rubbish which, thanks to certain characteristics, have managed to hang on in the market for a few years, but if they were to disappear, we wouldn’t have anything to miss.

All in all, this image proves how Bitcoin remains valuable and market dominant and a true asset that would always guarantee good returns over a decade long steady accumulation phase.

That image doesn't prove anything.

[Cointxz]

This is partly correct but not always true. Bitcoin dominance can be stable even there’s new money entering the crypto if those money are diversified to 50% Bitcoin and 50% altcoin or closely balance.

Most of the time, Increase of Bitcoin dominance and Altcoins pumping simultaneously are a clear indicator that huge volume of fresh money entering the crypto.

With a market like this which is just sideways. It’s normal that there’s little interest to inject new money.

[hd49728]

🕵🏻Which is why I think the current situation is in 👉 step 3 of the following image/picture.
Please give your opinion on this situation in the market. ( That means good altcoins are in accumulation phase )

This diagram is an old one but likely you just knew about it recently.

My advice for you is stay away from altcoins, otherwise you will lose your money to altcoins in both bear market and bull market. In bull market, many altcoin projects created with their promising whitepapers and roadmaps but most of such new innovative projects are scam or incapable for development. In bull market, weak altcoin projects naturally die because money will be withdrawn out of the market in bearish months.

[PostQuantumBTC]

My opinion is that there are no good altcoins. Almost all of them are pump and dump schemes and the few that aren’t are centralised, pre-mined rubbish which, thanks to certain characteristics, have managed to hang on in the market for a few years, but if they were to disappear, we wouldn’t have anything to miss.

I will say so too, but I like monero. Almost all the altcoins are not good but they can be good for short term purpose like when the market fall very well, you can invest in them which may yield good profit but do not expect ATH from them.

That image doesn't prove anything.

I also tried to understand the image but I did not see it meaningful for me, I think it does not prove anything also I agree with you.

[asriloni]

It's totally wrong. That cycle is not working anymore. The fact that alts is hitting multi year sell pressure. Too many alts, and majority of them are for the scamming purpose. So big players are now concentrating their money back to the bitcoin.

The idea about the alts accumulation doesn't match to the reality if many of alts never recovered.

The supply is getting flooded while the money goes to alts getting less and less. Just always stick to bitcoin.

[dwyane36]

This is partly correct but not always true. Bitcoin dominance can be stable even there’s new money entering the crypto if those money are diversified to 50% Bitcoin and 50% altcoin or closely balance.

Most of the time, Increase of Bitcoin dominance and Altcoins pumping simultaneously are a clear indicator that huge volume of fresh money entering the crypto.

With a market like this which is just sideways. It’s normal that there’s little interest to inject new money.

It’s rare these days to see both BTC dominance and altcoin prices rising at the same time. Regarding BTC dominance, it’s worth noting that it has been hovering within a fairly narrow range for a year now, and to be honest, I doubt we’ll see alts begin to dominate the market in the foreseeable future. In other words, a drop in BTC dominance to 50% or to 40%, that is, to the 2022 level, seems unlikely to me.

[Dunamisx]

Bitcoin dominance will always remain as ever before and the only thing we can also see from it is to increase even better because of the increasing adoption rate of Bitcoin.

The market price is more tuned towards the direction in which day Bitcoin dominance is moving, sometimes we may have to intensify our analysis I'm broadening the spectrum to what we know regarding Bitcoin and other things we consider together for our own benefit.

[EarnOnVictor]

According to the market , in my opinion
There is no new money entering Bitcoin at the moment,

I don't think any good asset would be as dead as you narrated. Of course, there are new inflows into Bitcoin, which explains the momentary rise in prices, of which, some could last for days or more, even as the main trend remains bearish. The right scenario is that, there is more supply than the demand, which is normal in a bearish market.

[tabas]

According to the market , in my opinion
There is no new money entering Bitcoin at the moment,

And that's because first, we're in a bear market. Then, companies who held a lot like Strategy have already sold. It's only a matter of months until new money coming in.

It’s rare these days to see both BTC dominance and altcoin prices rising at the same time.

I agree, there was a shift even last bull run. Not the entire altcoin have risen when bitcoin was on a bull run. The situation changes from time to time and nothing is certain with pertains to the dominance of Bitcoin. How I wish to see more than 70% of BTC's dominance again.

[Zoomic]

Is the chart you provided useful enough for anyone to use it as a general guide? Maybe yes.

Will I or do I advise anyone to treat it as a roadmap? Absolutely no.

Bitcoin dominance of a truth has followed a similar pattern in the past but let's not forget that every cycle has their own surprises.

I'll be patient and wait for actual signs of money rotating into altcoins before I can accept that the accumulation phase is real.

Until then, I'll choose to be cautious instead of concluding that an alt season is surely coming just because we're at step 3 like you claim

[Franklyn-wood]

According to the market , in my opinion
There is no new money entering Bitcoin at the moment,

I don't think any good asset would be as dead as you narrated. Of course, there are new inflows into Bitcoin, which explains the momentary rise in prices, of which, some could last for days or more, even as the main trend remains bearish. The right scenario is that, there is more supply than the demand, which is normal in a bearish market.

I am sure and agree with you that there is new inflow of money in the market which contribute to the increase in the price of Bitcoin and may last I little while. While the speculation continue to affect the price flow.
Market speculation is part of what helps the spike in the price of Bitcoin. We should all enjoy it while it last, because soom the market will experience bearish un announced.

[snowpega]

OP, this is because we are right now in the consolidation zone of the market. And after reading your whole post, I am failing to understand why you are giving the message of accumulation of altcoins in the Bitcoin discussion board. No doubt we all know about this, and the main point to mention here is that you should have focus on more Bitcoin discussion rather than talking about altcoin accumulation.

Because this is a different topic and discussion, and if you want to discuss this point, then you can create a separate topic on this in the altcoin discussion board. Well, in the consolidation zone, the Bitcoin market keeps showing small pumps and dumps, and in that period, the market keeps violating, and in this frame, traders take advantage of making money from the market.

[Floxynice]

I do not think this image above is reliable in determining what stage the market is in. The recent Bitcoin cycle has been tricky (so I would call it). I may not have personally experienced the previous cycles, but there are records to read, and it somehow seems that what we are seeing now isn't following the usual patterns of the past. Relying on this image doesn't make sense to me.

That aside, no matter how beautifully altcoins are painted, they won't look attractive to me. I prefer to focus only on Bitcoin because it is more guaranteed than the rest of the cryptocurrencies.

[Chinesebaby]

Bitcoin is money. Gold is money. The dollar is not money it is a fiat currency.Fiat currencies are debt-based credit instruments.

Please educate yourselves, because it honestly sounds ridiculous when people confuse these basic concepts. Money is something the market chooses. Fiat is something the state imposes.

Saying that Dollar to not money, then it simply means you literally don't know what the definition of money is, because money is anything that can be used as a medium of exchange between two or more people. And for the fact that two or more people accept it as a medium of exchange, it automatically makes it money. Whereas when we talk about Bitcoin and gold, then they are both money and also an asset, simply because they can be used as a medium of exchange to buy and sell goods or pay for services and likewise be a store of value over time. So please stop saying that dollar is not money, because it is a medium of exchange been used by the people of the United States of America.

[Alpha Marine]

Bitcoin is money. Gold is money. The dollar is not money it is a fiat currency.Fiat currencies are debt-based credit instruments.

Please educate yourselves, because it honestly sounds ridiculous when people confuse these basic concepts. Money is something the market chooses. Fiat is something the state imposes.

What are you saying?
How is the dollar not money?
How are fiat currencies not money? In any way you want to define money, fiat currencies, especially the dollar, come out as money. It doesn't need to be perfect for it to be money. The fact that the state imposed it doesn't stop it from being money. States have been imposing different kinds of money on their territory since before Juluis ceaser.

There has to be a reason why the market chooses something to be money. If the bitcoin you say is money was not created, the market would not have "chosen" it.
And by your definition, the dollar is more money than Bitcoin because it has been chosen by more people than Bitcoin.
You're the one confusing yourself. Fiat currencies are money. You may argue that they are inferior to Bitcoin as money, but they are still money regardless.
Also, a thing can be a debt-based credit instrument and still be money.