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 )
Your observations are accurate, this is usually how the market reacts after the bull peak has been reached. Investors turn to Bitcoin for safety as they pull out their money from altcoins and invest it into Bitcoin.
I doubt that the so-called quality altcoins are in accumulation stages instead I believe a lot of them prices are being inflated as they are being backed up by what I will call market manipulators to make it look like their coins have value.
BNB coin is a good example as the CEO constantly burn their coin out of circulation so as to inflate the price and keep it on a high demand. The same can be done to other coins too as you don't know what goes on in the background therefore I won't use just because they look like they are in accumulation stage as a reason to invest in them instead my advice will be to pull out your money and save guide them in Bitcoin as you might never know the next coin to exit camp due to low liquidity.
