Good morning Guys,
Today the market increased :). Not spectacularly but still in a good strong way. My 3 indicators for market growth are signaling a very strong move upwards in the coming few days.
If BTC is up and the overal market is up this is a signal that new fresh money is flowing in.
The USDT price development gives the following information: If general market is down and USDT up a shift is made from crypto to USDT. This is the quickest way to trade out of crypto (be aware it is not the safest way). Today USDT is down while crypto is up. This is another strong signal.
If overal market cap is going up while indicator 1 and 2 are positive it is a true signal that the market has revitalized with strength and I we can expect a healthy market that is preparing for a strong increase.
On coinmarketcap.com there are so many good tool to analyse the market. One chart that caught my attention is the following one.
We can observe the following:
A. BTC's dominance showed a light decreasing trend that seemed to crash in June 2017
B. Altcoins are increasing in dominance, with Ethereum taking the lead
We have to monitor how this evolves. The graph looks more dramatic than it is. Total BTC market cap is USD 189 bn. If BTC doubles then the market dominance is normalized again.
It is naturally for an extreme situation to eventually go back to normal. BTC's dominance is normal. We don't know anything else, hence I expect BTC to show a strong performance in the coming weeks.
Have a nice weekend and take care.
