The crypto market is very unique in the sense that there's no clear index to compare results to. If you have a stock investment portfolio you would compare your performance to the S&P500 or Dow Jones. This gives you clear feedback as to the strength of your portfolios performance. In crypto currency the closet thing we have to an index is Bitcoin. Basically the performance of the entire crypto currency market is compared to Bitcoin. This poses and difficult challenge due to the massive volatility in Bitcoin itself. This creates a situation where one crypto currency can control the direction of the overall market. As the Bitcoin Dominance figure goes higher the impact of the price of Bitcoin increases in significance to the overall health of the crypto market. This is important if we want to take crypto to a higher level. We need one specific market leader to get behind to take us into unchartered market cap territory. Once new highs are reached, the newly created wealth will filter into the alts. However, I don't believe most of the alts on the market today have what it takes to survive. So, pick your alts well and keep a solid reserve in Bitcoin and USD. I would like to see the Bitcoin Dominance level rise to 60-70% before we see a shift back to the alts. Thanks for reading and let me know your feedback.ย
