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.]
Bitcoin can be thought of as an index of the cryptocurrency market.
Bitcoin is the world's first cryptocurrency. Bitcoin is the most capitalized cryptocurrency. Bitcoin has a very good chance of becoming the world's reserve currency.
In this case, it will be included as an integral part in the gold and foreign exchange reserves of central banks.
Altcoins are essentially experimental laboratories for testing various software and financial technologies.
This is the difference between bitcoins and altcoins. It determines the dynamics of changes in their market rates.