Okay, guys, may God give you health. Let's talk about the topic of Bitcoin selling from the current prices into altcoins.
We want to be concise, and I don't want to philosophize too much, but the topic is impossible, or let's say it's difficult to respect the market.
Why is it difficult?
Simply put, we were in a consolidation zone for a long time between 90 and 105.
Do you really expect the whale that bought at these prices to sell when the price drops and loses?
Definitely not.
And I mentioned before, folks.
Bitcoin will not be spent on altcoins unless it is in the peak range.
We are not in the peak range now, let's be realistic.
How is it a peak range when the whole market is down?
The current market situation is similar to the days when Bitcoin was in the thirties, not the days when it was in the sixties, I mean around 2021 and the years around it.
I mean, to be clear, Bitcoin's dominance will not drop while prices are at their current levels, and it will never happen.
It will drop when it reaches a number higher than 112K; its target is at 137K, and it might start to sell from there if the market wants to make two upward waves.
And I'd like to add something before we finish.
Guys, it's not in our interest for dominance to drop right now.
Why?
Because if Bitcoin drops and its price is 80K or 90K, we won't see the rises we were hoping for.
In short, the season will be weak.
Whereas if dominance drops and Bitcoin’s price is, for example, 150K or 200K, then you will see violent explosions in the market because the liquidity that will move into altcoins will be nearly doubled.
Hundreds of billions of dollars🤷♂️
And this is one of the basics that everyone needs to know.
Thank you, and excuse me for the lengthy explanation.
