knowledge What is Bitcoin? What is Dominance? And what is its effect?

[CryptoLegendry 505]

What is Bitcoin? What is Dominance? And what is its effect?

Bitcoin:
We know that Bitcoin is the most powerful cryptocurrency out there! Therefore, it has a huge impact on the rest of the cryptocurrencies! But when is the impact of Bitcoin strong and when is it low?

Dominance Bitcoin

Dominance of Bitcoin, which is what Bitcoin acquires from the market value of all digital currencies, in relative terms.

For your information, Bitcoin Dominance has its own chart, by opening the chart on the Tradingview website, you can analyze the dominance and benefit from it
Bitcoin Dominance Chart on Tradingview:

https://www.tradingview.com/symbols/CRYPTOCAP-BTC.D/


Dominance general rules

The rise in the Bitcoin Dominance in addition to the rise in the market cap as a whole, the result will be a rise in the price of Bitcoin and other currencies altogether
1- Bitcoin's dominance rise in addition to the drop in the market cap, the result will be a relative stability of the Bitcoin price and a decrease for other currencies
2- Bitcoin Dominance decreased in addition to the market cap, the result will be a decrease in the price of Bitcoin and a rise in other currencies
3- The decrease of the Bitcoin Dominance in addition to the decrease of the market cap, the result will be a decrease in the price of Bitcoin and other currencies

 

Traders have to use this chart and these rules to make a good profit !

Edited March 5, 2021 by CryptoLegendry

[CryptoLegendry 505]

New members, especially those who want to enter the world of trading, should always monitor the dominance! The best number is 60 and less than 60! The arrival of the dominance to this number means the transfer of liquidity to cryptocurrencies! Which will lead to the entry of large sums of money into Altcoins, and that will inevitably lead to an increase in its value!

[abohasnn9 2401]

My friend, Bitcoin is a currency that was created by an anonymous person named Satoshi Nakamoto, and this person created a financial blockchain system that relies on registrations a year after the currencies were launched in the markets.  The father of all other currencies and it is the most effective currency in the encrypted world. Thank you very much

[Steve waugh 610]

I am new to this platform and haven't completed 100 posts yet.I am trying to learn these terminologies .

[CryptoLegendry 505]

On 3/16/2021 at 2:14 PM, abohasnn9 said:

My friend, Bitcoin is a currency that was created by an anonymous person named Satoshi Nakamoto, and this person created a financial blockchain system that relies on registrations a year after the currencies were launched in the markets.  The father of all other currencies and it is the most effective currency in the encrypted world. Thank you very much

Because Bitcoin is the father of cryptocurrencies, so its impact on the rest of the cryptocurrencies is very large! Therefore, you should always pay attention to the Dominance percentage! As I mentioned above, when the dominance is high, this means that the liquidity in the market is very focused on bitcoin, and thus this will affect the rest of the currencies negatively!

[CryptoLegendry 505]

4 hours ago, Rose77 said:

Indeed, the Bitcoin currency obtained a high value and imposed its hegemony over the rest of the currencies and markets in a large way as a result of its advantages that gave it priority among everything, so we must strive to possess it and know when to buy it and when it rises to sell, and thus we get abundant profit

These days, we find that the dominance has increased by 9%, and this will definitely negatively affect the rise of Altcoin and will definitely delay the occurrence of the Altcoin! On the other hand, this is a very positive thing for Bitcoin, and I believe, according to my estimation, that Bitcoin will go and continue its way to rise to the level of $ 70,000 or even more! We are facing very fateful days and weeks and we must watch!

[CryptoLegendry 505]

4 minutes ago, Stylish rajpoot said:

 

My friend, Bitcoin is a currency that was created by an anonymous person named Satoshi Nakamoto, and this person created a financial blockchain system that relies on registrations a year after the currencies were launched in the markets.  The father of all other currencies and it is the most effective currency in the encrypted world.

Yes, this is true. Bitcoin has a great influence on the rest of the cryptocurrencies! But this effect diminishes with time! That is, about two years ago, when Bitcoin moved, the cryptocurrencies were greatly affected and fell by large proportions! This is because investors consider bitcoin to be the driving force in other currencies! But today we see that sometimes Bitcoin moves, but it does not affect much of the rest of the cryptocurrencies!

[scorpiali 5626]

Good information should any one know and have some knowledge about those terms it's very important to start from the base and have a good idea about how the crypto currency work in general and also to talk with other people and explain to them how it work 

[Amelia1971 1338]

What good information and very clear with the graphics that you have published, beginners thank you since we do not know much, in my case I know that bitcoin was created by satoshi nakamoto but that the name is actually fictitious because it is actually a large corporation who invented the name, what I have very clear is that the world of cryptocurrencies is exploding all over the world there are more and more people interested.

[CryptoLegendry 505]

This week is a pivotal week for cryptocurrencies! To look a little at the Dominance chart! In the event that the region of 59.6 is breached, this means a great recovery in the price of cryptocurrencies! Therefore, we must watch and pay attention to the best place to buy cryptocurrencies! According to my point of view, I see that now is an appropriate moment to buy cryptocurrencies!

[Ses93 1624]

It is a good idea to rely on the principle of the dominance of the Bitcoin currency and take advantage of its impact on other cryptocurrencies and can be relied upon in choosing the right time to buy and sell currencies.

[CryptoLegendry 505]

On 3/29/2021 at 10:53 PM, Ses93 said:

It is a good idea to rely on the principle of the dominance of the Bitcoin currency and take advantage of its impact on other cryptocurrencies and can be relied upon in choosing the right time to buy and sell currencies.

Yes, monitoring the Dominance Scheme every day is a good thing! This makes you make better decisions when you want to enter the Alt coins market! When the dominance is low it will be easier to make the purchase! Because the risk will be low, according to my opinion!

 

On 3/31/2021 at 10:11 PM, jory said:

What I know is that Bitcoin is the most famous and most valuable cryptocurrency, and it is the one that has become a leader in the world of cryptography, and that it dominates in all areas of investment and trading by people who have entered the world of investment and want to earn profits.

Yes, Bitcoin is the father of other cryptocurrencies! So there is a thing called a Dominance Chart! Because, as we know, all currencies are affected by Bitcoin!

[Alex Babu 343]

Thank you so much for sharing the best useful information about Bitcoin and Bitcoin Dominance and Dominance rules. I had no idea about Bitcoin Dominance at all. This post has added to my knowledge.

[Powell 572]

The bitcoin from my own little experience about that, is the largest digital currency in the cryptocurrency world, and has a very great and unique value when compared to other cryptocurrencies, anyway, thank you so much friend for sharing this with us.

[Alish198562 436]

Thank you for the great information, yes, I agree with you, Bitcoin is the dominant currency and the most used, its rise or fall will certainly affect the rest of the currencies, we must strive to collect as much of it as possible in view of its importance in the future.

[Ramossss 963]

In addition to what I mentioned, Bitcoin is the first digital currency that was created by a Japanese person named Satoshi and his main goal was to end the control of major countries over currencies and money and create independent currencies that do not belong to any party, and most of the digital currencies that were added after that are affected by Bitcoin and its price Significantly

[Arim1111 1095]

The concept of Bitcoin dominance refers to the percentage of the total market value of the total Bitcoin value, this means that during periods of Bitcoin's dominance, Bitcoin forms a higher percentage of the digital currencies combined.

[Zeen ali 176]

Bitcoin is a currency whose hearsay differs from its founder, but it has been traded recently and it is the most effective currency in the world of encryption. This currency got a high value and was imposed on the market on other currencies widely. This is all my knowledge of Bitcoin. Thanks for the information we have provided

[sea&& 272]

Bitcoin is a value that has maintained itself in the trading market that has proven its advance in front of other currencies and the reason is its advantages and confidence among investors and its dominance in the market,
And everyone finds it more confident than other currencies

[Jasmin123 698]

Dear friend bitcoin is very valuable digital currency and it gives you lot of advantages you can run your business by using bitcoin you can do trading by using bitcoin and dominance mean it has hold on all other cryptocurrencies and this thing made it very valuable in the crypto world.