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![]() | The overall market value of cryptocurrency raised 1.30%, and the price of Bitcoin has increased to approach the resistance area at its previous high, following with the remained trading volume, Bitcoin still stays under 60% of dominance. However, DeFi tokens and NFTs are not taking a breather. submitted by OKEx-official to OKEx [link] [comments] https://preview.redd.it/pc9vjws6mkf51.png?width=947&format=png&auto=webp&s=a4ec2a495e0a5a447708590d34d89854f88aec09 Click the link for more https://www.okex.com/academy/en/defi-tokens-and-nfts-surge-as-bitcoin-momentum-wanes-crypto-market-daily?channelFlag=ACEAP6501382 |
![]() | Before we begin, let us hop onto the same page and understand what bitcoin dominance is. submitted by MyCoinStory to ethtrader [link] [comments] WHAT IS BITCOIN DOMINANCE? Bitcoin Dominance is simply the market share of bitcoin in the cryptocurrency market determined by market capitalization(Circulating Supply x Price). Bitcoin is by far the largest cryptocurrency by market capitalization and a top contributor in trading volume. Bitcoin Dominance ratio can be derived from dividing market cap of bitcoin over the sum of the cryptocurrency market cap as a whole. As the dominance represents a ratio of market share, bitcoin dominance is often affected by the performance of altcoins. Therefore, as shown in figure 1 below, the Bitcoin Dominance dropped dramatically at the time ICOs gained popularity where Ethereum almost overtook Bitcoin in market cap. Figure 1 - Source: coinmarketcap.com BTC HALVING - AFFECT ON DOMINANCE As market capitalization is calculated by the circulating supply and price, it is logical to assume that the dominance will gradually fall over time as the rate bitcoin issuance has dropped by half. However, as shown in figure 2, the Bitcoin Dominance is still maintaining its stance at approximately 67~68%. It is in great interest by many cryptocurrency enthusiasts to see where the dominance will be heading. As the supply rate has dropped, the only way the dominance can be maintained is through the increase in bitcoin price. Figure 2 - Source: coinmarketcap.com As of May 11, the date of the 3rd halving, the price of bitcoin has continuously demonstrated an upward trend which was a key factor in maintaining the dominance level. Figure 3 - Source: coinmarketcap.com Leading up to the halving, the Bitcoin tweet dominance (shown in Figure 4) also hit its highs since the 2017 bull-run. Figure 4 - Source: The Tie ALTCOIN PERFORMANCE As mentioned above, another factor to consider is the Altcoin performance or the so called "alt-season". Although Bitcoin strongly stands as the main crypto asset across the world, there are many altcoin fans that are waiting for the "alt-season" to come. Now with a major event for Bitcoin out of the way, what influence will this have in the altcoin market? Furthermore, many institutions and governments are also leveraging altcoin protocols to issue their own cryptocurrencies to add efficiency and innovation to existing systems. These initiatives will bring greater reach to the general public, meaning more demand. Shown in figure 5, over the past month, the so called whales have been discovered stacking up with several key altcoins in their wallets. Figure 5 - Source: Santiment Below are some upcoming events for Altcoins and also institutional use cases Altcoin Events
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![]() | Before we begin, let us hop onto the same page and understand what bitcoin dominance is. submitted by MyCoinStory to MyCoinStory [link] [comments] WHAT IS BITCOIN DOMINANCE?Bitcoin Dominance is simply the market share of bitcoin in the cryptocurrency market determined by market capitalization(Circulating Supply x Price). Bitcoin is by far the largest cryptocurrency by market capitalization and a top contributor in trading volume.Bitcoin Dominance ratio can be derived from dividing market cap of bitcoin over the sum of the cryptocurrency market cap as a whole. As the dominance represents a ratio of market share, bitcoin dominance is often affected by the performance of altcoins. Therefore, as shown in figure 1 below, the Bitcoin Dominance dropped dramatically at the time ICOs gained popularity where Ethereum almost overtook Bitcoin in market cap. Figure 1 - Source: coinmarketcap.com BTC HALVING - AFFECT ON DOMINANCEAs market capitalization is calculated by the circulating supply and price, it is logical to assume that the dominance will gradually fall over time as the rate bitcoin issuance has dropped by half.However, as shown in figure 2, the Bitcoin Dominance is still maintaining its stance at approximately 67~68%. It is in great interest by many cryptocurrency enthusiasts to see where the dominance will be heading. As the supply rate has dropped, the only way the dominance can be maintained is through the increase in bitcoin price. Figure 2 - Source: coinmarketcap.com As of May 11, the date of the 3rd halving, the price of bitcoin has continuously demonstrated an upward trend which was a key factor in maintaining the dominance level. Figure 3 - Source: coinmarketcap.com Leading up to the halving, the Bitcoin tweet dominance (shown in Figure 4) also hit its highs since the 2017 bull-run. Figure 4 - Source: The Tie ALTCOIN PERFORMANCEAs mentioned above, another factor to consider is the Altcoin performance or the so called "alt-season". Although Bitcoin strongly stands as the main crypto asset across the world, there are many altcoin fans that are waiting for the "alt-season" to come. Now with a major event for Bitcoin out of the way, what influence will this have in the altcoin market?Furthermore, many institutions and governments are also leveraging altcoin protocols to issue their own cryptocurrencies to add efficiency and innovation to existing systems. These initiatives will bring greater reach to the general public, meaning more demand. Shown in figure 5, over the past month, the so called whales have been discovered stacking up with several key altcoins in their wallets. Figure 5 - Source: Santiment Below are some upcoming events for Altcoins and also institutional use cases Altcoin Events
Either way, these uncertainties can be traded on derivatives exchanges like MyCoinStory.com where traders can go long or short depending on which way they think the prices will move. Trade on MCS! Traders ALWAYS come first on MCS Thank you. MCS Website: https://mycoinstory.com/ MCS Official Twitter: https://twitter.com/mycoinstory_mcs MCS Official Facebook: https://www.facebook.com/MyCoinStory.official MCS Telegram Chat: https://t.me/mycoinstory_EN MCS Official Blog : https://blog.mycoinstory.com |
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![]() | Before we begin, let us hop onto the same page and understand what bitcoin dominance is. submitted by MyCoinStory to btc [link] [comments] WHAT IS BITCOIN DOMINANCE?Bitcoin Dominance is simply the market share of bitcoin in the cryptocurrency market determined by market capitalization(Circulating Supply x Price). Bitcoin is by far the largest cryptocurrency by market capitalization and a top contributor in trading volume.Bitcoin Dominance ratio can be derived from dividing market cap of bitcoin over the sum of the cryptocurrency market cap as a whole. As the dominance represents a ratio of market share, bitcoin dominance is often affected by the performance of altcoins. Therefore, as shown in figure 1 below, the Bitcoin Dominance dropped dramatically at the time ICOs gained popularity where Ethereum almost overtook Bitcoin in market cap. Figure 1 - Source: coinmarketcap.com BTC HALVING - AFFECT ON DOMINANCEAs market capitalization is calculated by the circulating supply and price, it is logical to assume that the dominance will gradually fall over time as the rate bitcoin issuance has dropped by half.However, as shown in figure 2, the Bitcoin Dominance is still maintaining its stance at approximately 67~68%. It is in great interest by many cryptocurrency enthusiasts to see where the dominance will be heading. As the supply rate has dropped, the only way the dominance can be maintained is through the increase in bitcoin price. Figure 2 - Source: coinmarketcap.com As of May 11, the date of the 3rd halving, the price of bitcoin has continuously demonstrated an upward trend which was a key factor in maintaining the dominance level. Figure 3 - Source: coinmarketcap.com Leading up to the halving, the Bitcoin tweet dominance (shown in Figure 4) also hit its highs since the 2017 bull-run. Figure 4 - Source: The Tie ALTCOIN PERFORMANCEAs mentioned above, another factor to consider is the Altcoin performance or the so called "alt-season". Although Bitcoin strongly stands as the main crypto asset across the world, there are many altcoin fans that are waiting for the "alt-season" to come. Now with a major event for Bitcoin out of the way, what influence will this have in the altcoin market?Furthermore, many institutions and governments are also leveraging altcoin protocols to issue their own cryptocurrencies to add efficiency and innovation to existing systems. These initiatives will bring greater reach to the general public, meaning more demand. Shown in figure 5, over the past month, the so called whales have been discovered stacking up with several key altcoins in their wallets. Figure 5 - Source: Santiment Below are some upcoming events for Altcoins and also institutional use cases Altcoin Events
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Bitcoin trading volume 10m 1h 6h 24h 3d 7d 30d 6m 2y 5y all. auto second minute hour day week month. Currency Exchange Spread depth Mining Pool Comparison Chart type Scale type Sum within price range Display sum in Smoothing Smoothing The Bitcoin trading volume indicates how many Bitcoins are being bought and sold on specific exchanges. High trading volumes are likely to drive more on-chain activity, for example when people deposit and withdraw funds. It is also a good indicator of the general interest in the crypto market. An easy way is the $0.5 billion per day trading volume of bitcoin spot markets quoted in U.S. dollars from major exchanges, the report details, adding that most BTC trading occurs on a handful of Even so, these statistics offer a much better snapshot of the country-by-country trading volumes than the Localbitcoin charts. The USD is unsurprisingly at the top, with 303,355 BTC bought/sold for USD daily. This makes up 65.33 percent of the total bitcoin trading volume exchanged for national currencies. Trading Volume. Daily bitcoin trading volume and market dominance. Volume reflects a 24-hour period of time. Dominance is a measure of bitcoin volume versus the entire cryptocurrency market. Historical volume goes back to 2013. Unit: US Dollars, Percent of Total Volume. Source: CoinMarketCap.com. Learn More
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What are your thoughts on this method of using volume? Do you feel it can help establish trading opportunities? Feel free to leave a comment below! Thank you all so much for watching the video. If ... The Ultimate Guide to Trading Volume - Duration: 19:10. Bitcoin Trading Challenge 59,152 views. 19:10. How to Make $500 a Day Trading ONE Stock Live Scalping 004 - Duration: 23:51. Trading with the Volume Profile (Advanced) - Duration: 12:52. Bitcoin Trading Challenge 37,449 views. 12:52. What is Ethereum? A Beginner's Explanation in Plain English - Duration: 11:50. Bitcoin surpasses a January 2018 trading volume all time high on Binance and the Bitcoin weekly chart puts in one of the most bullish btc indicators on bitcoin charts. Bitcoin Trading Challenge 20,801 views 12:45 How To Trade Liquidity Voids, Volume Profile (Market Profile Trading) Against Retail Traders - Duration: 1:06:47.