The Bitcoin Dominance Chart sure looks like it is getting ready to roll over...
After hitting a 2 year high of roughly 72%, the Bitcoin Dominance Chart is looking like it might be ready to start rolling over...
Check it out:
https://twitter.com/altrich/status/1172475074865172486
The last time Bitcoin was at or above these levels was March of 2017.
That was as the Bitcoin Dominance Index was just starting its plunge down to the lows of around 33%, which happened in January of 2018.
Altcoins are at a very important point on the chart
Altcoins are teetering on a very important trendline.
If this can hold, I would expect prices to shoot higher over the coming months:
(Source: https://cointelegraph.com/news/bitcoin-price-charts-aligning-with-bakkt-launch-points-to-a-big-move)
If the altcoin market were to lose that trendline, we could see a quick drop in prices as there isn't much support until about 20% below that trendline.
Here's to hoping it holds!
We should see some fireworks either way in the next few weeks.
Stay informed my friends.
-Doc