CRYPTO CORNER EPISODE 489
Market Analysis, Updates, News & Reviews
As the bear market dives deeper underwater, altcoins are once again affected in the worst way. Not only they lost around 70% on average (from their respective ATHs) but they’re also suffering from Bitcoin’s growing dominance.
You see, in a bear market (as I have been saying for the past two years), Bitcoin tends to be the dominant coin. Most of the money that stays in crypto, is in Bitcoin, therefore its performance is not as poor compared to the rest of the crypto market.
With that said, we have been seeing a steady increase in the Bitcoin dominance, reaching 45% for the first time in 8 months.
This is really bad news for the alts though, as I’m expecting a further increase in the Bitcoin Dominance, we are bound to see all alts get even more hammered.
Here’s my video analysis with more details on this scenario
☝These are my opinions, not financial advice, always DYOR.
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All information is meant for public awareness and contains what is already in the public domain. Please take this information and do your own research.
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