Navigating Your First Crypto Cycle: Understanding Bitcoin Dominance 👑

Are you new to cryptocurrencies and feeling lost as your altcoin investments stagnate? Are you frustrated when bitcoin goes down by 2% and your wallets sink ? 👀

Dive into Bitcoin Dominance, a crucial concept to master.

What is Bitcoin Dominance?

Bitcoin dominance measures Bitcoin's market share in the total crypto market cap.

The Current State of Bitcoin Dominance

- Bitcoin's dominance: approximately 61% (all-time high)

- Capital flowing into Bitcoin at the expense of altcoins

- Slight Bitcoin dips significantly impact altcoins

Why Does This Matter for Altcoin Holders?

- Liquidity Squeeze: Rising Bitcoin dominance leads to altcoin market liquidity squeeze.

- Market Sentiment: High dominance indicates investors seeking Bitcoin's relative safety.

My Prediction and Strategy

1. Max Pain Area: Bitcoin dominance might have peaked.

2. Altcoin Season: Expect decline in Bitcoin dominance, money flowing back into altcoins.

Navigating This Cycle:

- Dollar Cost Averaging (DCA): Invest in strong altcoin projects.

- Profit Taking: Secure profits when altcoins surge.

- Patience for Entry Points: Wait for Bitcoin dominance to fall.

-The decline of dominance doesn’t necessarily pump your bags you need to have right coins as well

-Stop being stuck on some coins cut losses

Conclusion

Understanding Bitcoin dominance helps you comprehend the crypto ecosystem's money flow. Stay patient, informed, and strategically position your investments.

Key Takeaways:

- Monitor Bitcoin dominance

- Employ DCA and profit-taking strategies

- Stay patient and informed

Stay Ahead in Crypto:

Keep learning, stay informed, and good luck with your crypto journey!#HaveYouBinanced