Bitcoin is back, gaining strength on the market once again while diluting the value of most altcoins against itself. It´s an old game already in the cryptocurrency market, a cycle that keeps coming up over and over again.
Below you may see the market dominance of Bitcoin, which is currently sitting at more than 41.5% again already after the lows around 33% in early January. Based on previous cycles it can be expected to raise even higher to values between 45 - 50%.
That being said I´m currently moving some of my altcoin positions back into Bitcoin, hoping to achieve some small profits along the rally of the BTC dominance. Just according to the strategy of selling high and buying back in low, let´s hope it works out this time xD
What´s your opinion?
Is Bitcoin going to dominate the market again?
(Please note that the above only reflects my personal opinion and is no trading or investment advise after all. Always do your own research before putting your money at risk!)
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