We are observing a considerable increase of Bitcoin Dominance in the cryptocurrency world. From the chart, it has been increasing consistently from around 37% to over 45.5% now.
What does it mean?
Bitcoin is taking the lead from the market, taking capital from other altcoins. As you can see from the chart, ETH, BCH and other altcoins are suffering from a decrease in dominance, which leads to the market in red.
For me, this time is quite difficult for us, traders. I would not cut my loss in my altcoins at the moment, but I will have a close observation on Bitcoin. If BTC is to break above higher, I might cut my loss in Altcoins and wait to buy at the lower price range.
However, we are quite unsure about the market. What I am expecting for is the bull to stop, letting Altcoins raise up, then gathering more momentum to push the whole market up.