Bitcoin dominance decreased - we are seeing pumps of altcoins

At the moment the total Market Cap of cryptocurrencies is over 458 billion dollars which is much more than in the last days, and this is a period of all time highs. This means that again money are flowing into cryptocurrencies.

It is easy to spot that Bitcoin growth a lot since the announcement of futures trades, the effect of its growth over the altcoins is very important. We can deduce that the growth of Bitcoin today is dragging the other coins up.

I can say that because after the bullish run of Bitcoin and the increased dominance of the market which it reached in the last days when it surpassed the 64% value, now it decreased to 61.3%. So the money are flowing back to altcoins. It is pretty important to understand what happens now because this helps us predict the market on.

If we look at the volume traded in the last 24 hours we can see that we can distribute the volume of Bitcoin traded and obtain the growth of the other coins:

This continues as the list of coins goes on, but I don't have enough space here for such a long screenshot, but you can go to coinmarketcap for a complete list of coins and press the Volume (24h) to sort them by volume (I know this seems trivial but it is important for everybody to be on the same page).

As the Bitcoin dominance goes down, it is expected to see a decrease in its price, but this does not happen since there are money flowing in the market through Bitcoin.

Since the futures already started to trade and the rush of getting Bitcoin before it's too late (FOMO) has started to vanish as the price stabilized, people started to convert back to their other coins the Bitcoins they got. It is room for more even though, because the usual dominance rate of Bitcoin is around 55% which means that we could see much more pumps around the altcoins.

In an older post I mentioned that the price of Ether can go higher, and this is a current shot of the same BTC-ETH graph:

You can see that the growth began, but it is still far from the value it can reach. This is true, if you think that now at $500 one ETH it has a high price, then think about it when it will reach a value of 0.04 or 0.05 BTC! I still don't know when this will happen and of course, nobody knows for sure but I can still guess it is about to happen.

Right now, a final coin I would like to look on in this article is the most popular here, STEEM

This is its graph compared to Bitcoin. We can see that it simply started to stabilize so we can be ready for another little pump in the price. If you like these, then you should buy some and then put a sell order for a higher value. I would say that a jump of 10 to 20 percents is possible so you can go for that value.

This is not financial advice, it is just my opinion, invest your money carefully and make your own analysis first. Take care and never invest more than you can afford to lose!