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-35That is not going to be enough to push the price of bitcoin up, to begin with that was not the reason of why bitcoin reached 20000 dollars, bitcoin reached that price because of its own merits and if bitcoin ever reaches the price of 50000 dollars, and I think that is very likely, it is going to be because of its own merits not because we were helped by some financial tool.