Bitcoin dominance critics
We draw Fibonazzi based on May 2018 drop, where BTC.D first time indicated anything about the market (BTC went lower)
Also realized that this is not an ideal indicator for absolute price levels.
We will see if this is correct indicator for price trend, but we dont belive so.
Seems when BTC has lost more that 30% of its price BTC.D fluctuates the most.
Unfortunately list of BTC.D Index included cryptos are nowhere availale. BTC.D index seems to be a black box.
There are various ways presented online calculating the BTC.D index e.g. Tradingview.
Some history: No one cared about BTC.D in 2017-2018.
Google trends indicate increased searches for "bitcoin dominance" only starting Feb2021, not before.
Also realized that this is not an ideal indicator for absolute price levels.
We will see if this is correct indicator for price trend, but we dont belive so.
Seems when BTC has lost more that 30% of its price BTC.D fluctuates the most.
Unfortunately list of BTC.D Index included cryptos are nowhere availale. BTC.D index seems to be a black box.
There are various ways presented online calculating the BTC.D index e.g. Tradingview.
Some history: No one cared about BTC.D in 2017-2018.
Google trends indicate increased searches for "bitcoin dominance" only starting Feb2021, not before.
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