BITCOIN DOMINANCE DECREASING WHILE OTHER ALTCOINS SHOWING SOME POTENTIALS
Today I found something very interesting regarding the crypto chart.
Bitcoin and some other altcoins in the top altcoins ranking seem to be in a bearish trend despite the bullish movements within the last few months.
Not long ago, Bitcoin together with the altcoins showed some bullish price movements of which most people anticipated a bullish rally. However, the trend seems to have reversed. In my experience, Bitcoin could still fall to about 29k before another bullish rally.
Looking at the BTC chart above, the whole momentum seems to be bearish. However, the bearish trend also seems to be consolidating as well. From my experience, I think it’s a false consolidation that lures traders into thinking there could be a bullish reversal at the moment.
On the other hand, BTC dominance has also decreased, which suggests that it could be time for the altcoin season.
Steem on the other hand is also showing some irregular price movements. After steem/usdt was listed on the Binance exchange, the price of steem has become highly volatile. The price could just swing up and down within hours.
From my knowledge and experience, if steem can break the trendline in the chart above, steem would regain stability. Else, the price would continue with this strong volatility.
Thank you for sharing friend.
@juzkid upvoted you 😄🎉🎉🎉
Thanks friend