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-35Well, this type of speculation is normal in cryptocurrency as crypto is speculative investment. This strategy was effective last year as the price reached $20k but I don't know if new investors will bite again. I think we need mass adoption to increase the demand of bitcoin and push the price higher in a normal process.