BTC at $21826 a case of BTC Vs ALT's ?
Historically speaking as BTC prices surge money tends to move from the alt coins to the bitcoin part of a users portfolio.
This can crush the alt coin valuations.
As has been seen in the past though it also depends up what part of the rally we are talking about.
As BTC braces ahead at break neck speed is it time for ALT coins to rejoice?
BTC at all time high is some kind of good news for the crypto space as it hits the front page news and people talk of it hitting $100000 or even higher for that matter.
however is it actually good for altcoins?
I personally feel that as much as we see and cheer the BTC price hitting 20K or higher another important factor is the BTC dominance index.
If BTC dominance increases that means money tends to move from the alts space to the #BTC portfolios
This can be bad for the alt's growth trajectory.
How to check if your alts are being hit by BTC Dominance
A good point to check if your alts are being hit by BTC dominance is to see if their prices are up or down as compared to BTC
BTC price going up at a lower BTC dominance
If BTC price keeps going up without the dominance going up it would benefit the crypto universe as a whole and the entire crypto space would benefit.
A Sporty Quote
All work and no play makes Jack a dull boy
Alt coins should take a leap of faith and not just work hard but also play the social media game harder garnering the attention that is needed to keep them afloat and moving ahead.
Posted Using LeoFinance Beta