There are few days left until the Halving of Bitcoin and the Dominance of Bitcoin is rising, the interest in Bitcoin increases at the expense of the alcoins, we must inform ourselves to make the best decisions with the Alcoins.
Every time the price of Bitcoin rises quickly it impacts Dominance
Let's see Graph
What is halving
A block occurs after about 10 minutes and the miners who produce the blocks are rewarded with some Bitcoins. Currently, they are rewarded with 12.5 BTC per block and after halving, the reward will drop to 6.25 BTC. Halving occurs after 210,000 blocks are mined, which takes approximately 4 years. When Bitcoin started first, miners were awarded 50 BTC for mining a block and so far there have been two halving events, one in 2012 and the second in 2016. If the price stays below $ 10k after halving, could force some small miners to stop mining aa will not be profitable for them.
How will it affect Altcoins?
The good news is that the total market capitalization is increasing, which means more money is coming in.
But the money is going towards the purchase of Bitcoin, see dominance chart. Next Halving product
Alcoins can suffer in relation to the price of Bitcoin, that is, their price with respect to Bitcoin, for those who want to accumulate satoshis it is not good that dominance increases.
photos source: https://pixabay.com/
Graph Analysis
Dominance is trying to break the resistance of 69 points which is not good for the alcoin when Bitcoin is above 68 points.
Keys
Few days to Bitcoin's halving, by history, after halving Bitcoin's price in the long term, good gains have been recorded.
In its momentum, the daily RSI reaches high levels
The volume increases in the last days
Bitcoin exceeds the MA line of 200 1D periods.
Bitcoin's Dominance exceeds 68 points, which is not good for Alcoins
Which means that in recent days investors have bought more Bitcoin but it has already reached a critical value for the value of alcoins.
The trend indicates that the funds that entered the market are destined to the purchase of Bitcoin.
Why is it important for the domain to drop? Because lowering Bitcoin's dominance would indicate that cryptocurrency prices with good projects and good volume could continue to recover value
Alcoins must wait. The moment Bitcoin reaches a value for which investors take profits, (Bitcoin begins to lateralize) part of those profits, it is the moment that that money can go to the alcoins.
With investors buying only a few million dollars, in some alcoins, with their earnings, the increases can be spectacular, but for now the alcoins must wait.
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Protect your assets use Stop loss
The alcoins market is very dependent on the price of Bitcoin, when Bitcoins goes up the alcoins go up more, but also in the other sense, so I suggest that you periodically review a Bitcoin and use stop loss and move it when they are already in profit. Do not let a profit become a loss.
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