I have been watching this market for a long time.
It seems that in the early part of a bull market, Bitcoin goes up faster than altcoins (ie Bitcoin dominance goes up.) In the late part of a bull market, Bitcoin still goes up but altcoins go up even better (ie Bitcoin dominance goes down.)
In a bear market, altcoins fall faster than Bitcoin (ie Bitcoin dominance recovers somewhat but has to wait for the next bull market to go really high.)
So, it would seem the correct play is to buy altcoins at this point, and then convert them into Bitcoin (or sell) when you see the bull market ending?
Any thoughts?
[I used to post as BobK71, and am using a new account after some logistical mixup.]
Investing in bitcoin is one of the best financial advice you will get, despite its proven record of profitability, it is the most popular crypto and has a huge influence on altcoins.
While not all altcoins can be fully affected by bitcoin movements, bitcoin is the best choice for the long term and can provide good and satisfactory returns and dominate the market that altcoins cannot beat because of their trustworthiness.