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-35The price of bitcoin did not skyrocket for the reasons that you are stating, the price of bitcoin grew as much only because of the internal news regarding bitcoin, the price of bitcoin went up because segwit was activated, and this happened because people understood that the activation of segwit will eventually bring the lightning network and when that happens people are going to be able to use bitcoin as a currency once again and the transaction costs are going to be very cheap.