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Author Topic: Altcoin Nosedive vs. Market Dominance?  (Read 102 times)

katemi

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Altcoin Nosedive vs. Market Dominance?
« on: January 25, 2019, 04:56:19 AM »
Ever since ETH started going up against the USD over the past week, most of my altcoins have been nosediving. 

I've heard that sometimes this can happen because people want to exchange their altcoins for ETH, leaving the altcoins as 'collateral damage'.

Has anyone studied this negative correlation - i.e. ETH goes higher against USD, but altcoins drop against ETH? 

How long does it usually last?

I've been actively trading only since March, so I haven't seen a lot of the price action that goes on.  I've only seen altcoins rally along with ETH.

Lately, I've erred on the side of being too heavily positioned in altcoins, so I'm debating whether to HODL or to just take profits on the little profits I have left.  LOL.

Is anyone else convinced altcoin dominance will go higher?

My feeling is BTC dominance has peaked and we can will see BTC dominance going lower towards 42% to 45%, which would mean that altcoins will rally against BTC - and hopefully ETH.

 

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