Quote from: bryant.coleman on September 09, 2019, 12:46:10 AM

There is some interesting news from the cryptocurrency market. During the past 24 hours, the Bitcoin dominance has declined from 71.2% to 69.9%. This will give some breathing room for the alts, although I am not sure how long this phase is going to last. In the long term, I don't have much hope for the vast majority of the altcoins and tokens.

What's so interesting about that? Dominance isn't longer just a metric to measure where Bitcoin stands against altcoins, but a chart that can be traded where there are resistance and support levels to pay attention to.

As with everything in a bull market, the price goes up a bit, then corrects slightly, then make a higher high, correct, etc. Bitcoin's dominance is no exception in that regard-- the trend continues until the market dynamics hint at a reversal.

Overall, altcoins have never really added anything of value in terms of utility, but they have gone through the roof nonetheless. Once Bitcoin profits are taken, the most likely route are altcoins to maximize profits even further.