What does the dominance of Bitcoin mean and how use it in trading?

[Amr90 1064]

When the dominance of Bitcoin is very high in the crypto market, the movements are mostly for Bitcoin only.
Therefore, you must wait for the decline of Bitcoin control before start trading and investing in other currencies,
Because the decline in the control of Bitcoin expresses the direction of investors to other cryptocurrencies.

[Barbarellah 2225]

The dominance of Bitcoin is a measure that establishes the weight of the market capitalization of Bitcoin compared to that of the rest of the altcoins present in it. When Bitcoin rises suddenly, most altcoins tend to fall and this is why it is considered an opportunity to buy them, since when Bitcoin normalizes its rise, the others will tend to rise.

[P A Ashif 2409]

Its quiet clear with the price of bitcoin that it have today that how it is dominant. Its highest is 40k dollar now. It came first and it is now first. As traders perspective if you can trade big then bitcoin is a safe heaven. And for newbies its not so good. It charges huge fees. That if newbie pays, then they will be nothing left with for trading.

[Jack764 1841]

The dominance of Bitcoin is that its price has risen dramatically, as we can take advantage of that by storing it and waiting for it to rise further, and here there is a drop in the prices of the rest of the currencies.

[Samotokika 1780]

On 12/30/2020 at 3:38 PM, cryptorios said:

 

Hello friends, I am new in trading, and I often hear analysts warn against buying altcoins when the dominance of Bitcoin in the market is high, and there are those who recommend learning the dominance chart. Where to start and how to take advantage of dominanceto make profit from trading.

Thank you

Yes dude the market fluctuations of the higher  currencies will definitely cast an impact on the smaller currencies and altcoins so we should notice them  and get good knowledge from them

[Bruno52 1141]

The dominance of bitcoin is mainly due to its popularity and high price in the market and that is why many people are using it and you can take advantage of this dominance factor by promoting a coin that you are trading with online so that more people will use it and its price will increase so you can make a profit.

[MonaAhmad 146]

Yes, my dear friend, Bitcoin is the best and most used by traders, as its dominance affects the rest of the currencies in terms of supply, demand and transactions.

[Lina52 143]

indeed dominance greatly influences the price of alcoins.You may think that bitcoin has grown too much and altcoins are low.You may make a bet in altcoin and see bitcoin too keep rising.

Edited January 26, 2021 by Lina52

[godislovefll 1880]

BTC is very powerful and for this reason it is dominant before alternate cryptocurrencies, so when BTC falls they all fall and this is the best time to operate to generate more money because long-term alternate cryptocurrencies recover their value and may even take a few days but BTC will always influence the entire market depending on how it is working.

[Sykkuno 2887]

I don't always use dominance and even if we did, if price of Bitcoin drops, it will drag the altcoins down even more. We see this happen often and need to consider that dominance maybe one factor, but adding the billions of stable coins it will not go very higher than 70% of the market.

[Adam786 560]

My friend the price of bitcoin effects also the other cryptocurrencies therefore we can do trading at the time of dominance of the bitcoin because we can get good profit by selling the already stored cryptocurrencies.

[Goyaa 2414]

On 12/30/2020 at 5:38 PM, cryptorios said:

 

Hello friends, I am new in trading, and I often hear analysts warn against buying altcoins when the dominance of Bitcoin in the market is high, and there are those who recommend learning the dominance chart. Where to start and how to take advantage of dominanceto make profit from trading.

Thank you

The dominance of bitcoin means that the price of bitcoin is currently high and it affects the price of other altcoins. During the domination of bitcoin it was a good time to trade and sell altcoins because usually at that time Altcoin prices were high, but at that time don't buy altcoins.

[RoyalHouse01 9]

I have not read about it and I do not know how to read the chart of the dominance but I have heard that you can ear a lot when there will be deduction in the dominance of the bitcoin in the market.

[Froshk 1828]

The dominance of bitcoin in the crypto world is such that it paves way for other projects to come up and perform its functions in the crypto world 

[selfmade 7]

Bitcoin seems to be the coins that has control over other coins since it owns the largest volume. When bitcoin rises other coins tends to do the same likewise when they fall.

[Ajhar6 185]

I think cryptocurrency Bitcoin is the father of all currencies, it is the first currency in the history of monetary technology, it is a currency through which all other currencies are traded, it is like the US dollar that deals with everyone but within the trading platform ....  And it is traded like any other currency we buy then we sell it when it rises.

[Abrar1122 10]

I do not know about in the dominance had how to read the chart of domains but I have learnt that when there is dominance of Bitcoin The other coins would not be performing in that good

[kryptonick 2659]

The dominance was very high about two months earlier. It was somewhere near 70, and if we add everything else, including the stable coins, then it was just too high. I don't think that this kind of dominance can keep for too long, so it is a wise time to enter altcoins and wait for a month or a little longer. It can go down a lot too, as we have seen in 2017 reaching lower than 40. But it turned out that right after the bear market took over and every altcoin was in a bubble.

[pablomarwan 3082]

On 12/30/2020 at 11:38 AM, cryptorios said:

 

Hello friends, I am new in trading, and I often hear analysts warn against buying altcoins when the dominance of Bitcoin in the market is high, and there are those who recommend learning the dominance chart. Where to start and how to take advantage of dominanceto make profit from trading.

Thank you

I am not an expert and I am not a highly qualified person. One of the things that I do Some invest in Bitcoin and Ltc, and some others on currencies or NFT projects. The field of cryptocurrencies is not limited to Bitcoin alone , so the possibility of making good profits from your diversified trading and the difference in ratios is good.

[Dadouasaad123 902]

Of course, Bitcoin is the largest valuable currency and the most famous for sure, so when this currency rises, the rest of the cryptocurrencies will be affected, some of them may decline and some of them can rise, do not forget that there are a lot of cryptocurrencies working on the Bitcoin blockchain, so we have to research well in  The background of the cryptocurrency we want to invest in as bitcoin rises.

[basel23 1722]

It means Bitcoin's acquisition of the liquidity in the cryptocurrency market, and when this acquisition decreases, the liquidity goes to the cryptocurrencies, which leads to an increase in their price.

[Samer1997 715]

You have to choose an economic analyst you trust and consider that he is fully aware of everything he says, and follow his footsteps. Do not distract yourself between more than one analyst. This will make you feel lost and distrustful. When you follow him for a long time, you will learn automatically and gain reasonable experience

[Dissy sb 945]

You can use the Bitcoin in the trading one thing I want to tell you that first of all you should to check the market and the price of the Bitcoin and if you have the suitable and sufficient balance then you go for the trading in the market

[khaler 1549]

When the bitcoin price is high, you should not buy because the currencies are partially high. You must follow a rule in trading, which is buying from the bottom and selling from the top.

[Pereira 2303]

The most recommended thing is if you are new to follow people who know how the analysis of bitcoin in the market is going, since this will help you greatly in the purchase of altcoins, if the bitcoin falls all the altcoins will consequently fall in degree by the floor and this is called the red tide, when they fall to a questionable price it is very good to buy and hope that bitcoin makes its play in the uptrend causing growth in all altcoins.