The last time the CBOE launched a Bitcoin financial tool, futures, we saw $20k. Recently rising Bitcoin dominance shows people betting on the latest CBOE tool, ETF, being approved.
Bitcoin dominance is heading towards fifty percent by marketcap. What does this mean for the price and how should traders and investors view it? Marketcap is by far not the best metric to read dominance, but that doesnt mean it cant add value to your trading.
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https://soundcloud.com/buy-or-sell-what-the-hell/does-bitcoin-dominance-matter-to-traders-35You can see that the bitcoin price is falling very deep and although there are signs that it will be able to return to the $ 8000 level, the bitcoin price must first exceed $ 6800. The market is still bearish in the long run so I believe that the bitcoin price will probably fall to $ 5000 in next time. So being able to rise to $ 50k is a dream.