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-35It is unlikely that the price of bitcoin directly depends on the level of its capitalization. Now its capitalization has risen from 50 to 55 percent, but its rate remains the same. Moreover, the closer we come to the end of the year, the more we become convinced that there will be no big growth in the price at the end of this year. It is possible to say unequivocally that up to 50 000 dollars this year he will not be allowed. Most likely, he could have a good price at the level of 13 000 - 18 000 dollars.