As we have seen in previous bull run, Bitcoin dominance peaked at 66% on 8th then alts started to pickup then BTC price reversed on 17th. What is your perception on the next bull run how high do you think the BTC dominance will reach this time?
Do you think it will be lower because of so many new coins have entered the market since then?
What do you think of the current price rise, where do you think it will confirm a bull run?
Would love to see your input on those.
Looking at the last 3 weeks of December 2017 and leading up to new all-time-highs.
Dec 03- 10- Bitcoin Price: $11,177.76 Dominance: 48.0%
Dec 10 -17 Bitcoin Price: $13,916.79 Dominance: 48.0%
Dec 17-24 Bitcoin Price: $19,528.93. Dominance: 48.0%
Source:
https://coinmarketcap.com/historical/So nothing has change. Bitcoin dominance is also at 48% so it made me think that maybe this so called dominance is irrelevant in terms of the price of bitcoin.