3 crypto indicators you should understand
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.
- Bitcoin is up while the overal market is up
- USDT is down, below 1 USD
- Overal market cap shows an ascending trend
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.
i fully agree @abajnath even if we have a last down MARKET IS GOING TO EXPLODE UP i don't really care if it comes in february or march! We have the popcorn some good TWD episodes left to see and kids to play with :)
We have a mummies crypto group. We have popcorn every week. :-) should be a movie script. 15 mummies sitting in a cramped house overflowing with noisy babies playing while we make a fortune on the side:-) lol
@beiker! YESSS!!!
popcorn lol
btc up up up up
popcorn, beer and cheer for BTC... :-)
Really interesting, thanks for sharing your insight!
Thanks.
That's decent analysis , without beating the bush you've struck the chord by vividly stating three dominant points .
Thanks.
Looks like the market cap is gonna drop again soon: https://steemit.com/bitcoin/@investingtips/textbook-symmetrical-triangle-on-btcusd
Thanks for sharing information about cryptocurrency @abajnath .I hope the information is very useful for me
Your welcome.
with the information that you share more of the knowledge that I get
Good post
Thanks.
Bitcoin is up while the overal market is up
USDT is down, below 1 USD
Overal market cap shows an ascending trend
Great analysis you are awesome @abajnath
Thanks!
Good article. You are assuming like many others about the Bitcoin dominance will return of mean. However, this assumption may not be correct. It could also be Bitcoin dominance will slowly erode out as more and more altcoin will take its place.
Valid comment.
I think several "platform coins" like Neo, Qtum, and of course Ethereum will continue to take Bitcoins market share slowly. Also social platforms like this one will continue to move viewers from Youtube. Another aspects is the launch of Bitcoin futures; people can easily short Bitcoin now. I come from 15 years of trading in forex and futures. If I have a portfolio of altcoins; one of the easiest things to do now is to short Bitcoin futures against yours long diversified portfolio of altcoins for hedge against sharp correction that happened recently. Increasing short futures positions will creating a temporary downward pressure on the price of Bitcoins. They say Ether futures is months away.
Thanks for sharing your thoughts. I'm new to everything and i'll keep that in mind.
Good morning @abajnath . Thanks for sharing.
Thanks.
I noticed this about 4 hours ago. Today's market looks good. Top 10 coins price starts increasing.
Feels good.