Quote from: Learn Bitcoin on October 29, 2024, 07:47:40 AM

Quote from: Swordsoffreedom on October 28, 2024, 10:40:17 AM

Bitcoin dominance hasn't peaked yet, I think it could hit 62-64% before turning around and starting a real bull run as many expect.

But in that case, I feel like altcoins will start to bleed if Bitcoin dominance increases a lot. But if Bitcoin dominance increases and the price goes up as well, then altcoins won't pump. But if Bitcoin dominance decreases, but the price goes up, then we are most likely to see a massive bull run. For now, Bitcoin goes up for a couple of days and then takes a correction for two days which actually dumps the entire altcoin market. Bitcoin has been accumulating for four to five weeks, but most altcoins dumped up to 100% in the recent couple of weeks.

I don't know if Bitcoin dominance is a good gauge though to see how big Bitcoin will be, we have seen Bitcoin like having just 50% dominance but still pushing for new all time high. Plus, some altcoins might be artificially inflating their prices, so it's really hard to look at this data and come up with the conclusion.

So with that, let Bitcoin do it's thing, going for a new all time high, maybe it will trickle some to altcoins, so that is good enough. But if not, then so be it, we know that there are still relationship between the two. But I think Bitcoin can ran it's course alone and most likely if the FOMO will continue, we might see a new all time high this month of November.