In this analysis, I try to predict the future of the market based on the index of bitcoin dominance( BTC .D).
Since June 2021, we have seen a sharp decline in Bitcoin dominance from 73% to 40%.
The sharp decline in dominance injects liquidity into other market currencies and, consequently, their significant growth.
Although, since the beginning of the year, we have seen significant growth in this wild crypto market, and I think there is still potential for growth in this market especially in DEFI’s projects .
Due to the heavy entry of large financial institutions and the increase of new active Bitcoin addresses and other coins and holders that enter this market every day, it is possible that this upward rally can be considered continuous for Bitcoins and more for Atcoins.
And as you may know, this market is similar to the cycle of nature. In these years that I have been trading in this market since 2017, I have clearly seen that sometimes we are in the spring and flourishing crypto market and sometimes it is winter that the market is very boring and
Which is almost directly related to the 4-year period of Bitcoin biting
I believe that we can make money from this market at any time and there are many opportunities.
So since these cycles will always be repeated in financial markets such as crypto, it is wise to prepare for the future in advance.
So, well, I guess it is probably possible for the bitcoin dominance to fall further to at least the previous floor of 35-36%. And then we see demand in the support range and can return up to 40 or 50%
We are looking for more falls to support the growth of Altcoins.
Although it is very unlikely that the dominance will be less than 35%, then at that time I will definitely buy all my property ,Altcoins (🤑).
👉This analysis is my personal opinionand you are responsible for your own trading or investment.💯
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🙏with Best Regards and being successful ❤️