Bitcoin Dominance is Cray Cray

in #cryptocurrency6 years ago (edited)
Yesterday we were discussing on our friday meetings this little fact regarding BTC dominance of the market. If you've been paying attention, you may have noticed BTC is regaining its crown, and that to me is just a preamble to some things shooting to the stars.



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Of course I have no idea when this will happen, but I would not be surprised if we are about to hit the tipping point. Since I started to notice BTC dominance climbing some weeks ago, I've seen it crawl up about a third of a percent per day or so. Some days of course, it would drop back down as some random little coin would try to make a break, but overall, up, always up.

I clicked on muh browser of the interwebs just a second ago and guess what? BTC is over 50% dominance right now, actually as I'm writing this little blog dealio its at 51% which is, as the title of this blog entry says, pretty CRAY CRAY.




Time for Speculaish


This whole thing seems to work like some sort of pendulum, hence the graphic I've chosen for the insanity of this here blog entry. But, if we look at some history of BTC and it's siblings they seem to play this particular dance over and over.

Keep in mind, the market psychology is what's at play here. People thinking one thing is going to happen or another, is what manifests said acts. So, with that in mind, there might be a crazy person or two (like muhself) who is looking at these things, looking at these charts and saying the same thing.

(Now, if that person that shares my brain wave has the monies to act or not is whole different story, but I digress.)

I'm talking about picking the horse


Yes, that is precisely it. The way this works is that once BTC has taken too much of the cake, the moment it starts to correct the speculators start picking their horses. LTC, ETH, MONERO, you pick your poison, or better said, horse.

The logic here would be that as BTC climbs it gains in valuation against the other coins as more people exit their positions, leaving the alt-coins for the cheapy cheaps. As we can see from our current enemy coinmarketcap, STEEM is bleeding out like a wounded soldier.

Since I'm not an effective trader per say, I won't be making any gambles, and I've "revealed" my simple master plan. But, I'm pretty certain it's going to play the way it always does. Some horses will win in the bounce bigtime, some will catch up a little later, but there is one or two who are about to dust everyone else.

Risk Free Horse Picking

If I had some risk tolerance available from the ATM I would probably go with LTC at this very moment. The token seems too cheap, way too cheap, way too far away from the ATH of the days of insanity. But, of course, this is not an endorsement, nor a direct recommendation. We are just sharing thoughts, well I am, but I'm sure you will as well.

Just for the funs, lets say I pick LTC as my horse. Since it's not fun to not put anything on the line I will simply offer a tiny gamble on this blog. Let's play a little game, what do you say?

Whoever guesses what coin is about to pump against BTC, and I'm taking PUMP, not 8% of course, and leaves me his/her pick on this blog today. Will win, if correct, 1 STEEM from me; Just for picking the winning horse.

If however its LTC and you took the little bet, you have to make a post saying I was right, and self flag your post.

Let the games Begin!!!


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Can I guess STEEM? Haha.... I'm in. Tell me if I have to self flag whenever said movement occurs ;)

Also if I self flag my post, doesn't it hide the message lol. Meno was right!!! This post was hidden due to low ratings

Thank you for your valid entry @eonwarped - Steem to pump double digits

Thank you for playing the Hunger Games.

Regarding the hide the post.. yes.. but I will updoot it back to visible, donchu worries.

Since @eonwarped already picked STEEM, my bet is on XMR.

Monero is, like Steem, suffering from the generalised "altcoin" classification. So-called "alts" are getting absolutely #REKT right now, but I believe legitimate projects will FOMO again once all the shitcoin blood washes down the storm drains.

Oh snap. I always wanted to get some XMR. I guess now's a good time as any.

Thank you for your internet Lemony - You've picked XMR!!!

Thank you for playing the Hunger Games.

hmm i pick Stellar bc it a better xrp lol

Alright!! Stellar it is!!

Thank you for playing the Hunger Games.

I am going to guess ETH

Thank you for the Ethernet Viraldrome.. Yes.. I agree ETH is cheap as fork and knife right now... it could be a good horse.

Thank you for playing the Hunger Games.

Doge Coin will pump, because 1 doge = 1 doge and meme magic always wins over logic!

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We should ask the only DOGE whale in hur if he approves... @clayboyn

Can we accept Pandora's Submission here?

/me waits for confirmaish

Bro DOGE da troof. I been done tolded you dat.

Congratulations Pandora... You submish has been accepted...

Welcome to the Hunger games.

i have no idea. so i wont bet.

To the moon with shitcoins...

Hi meno. I will submit XRP. I don't like Ripple at all but I think it is going to shock a few people soon.

Aha... Entry accepted, welcome to the hunger games.