dolphinrescue_ryan
@thdhkwjs
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๐ซก ALTSEASON. Read.
>>> โWhen will altseason happen?!โ
Most top altcoin founders have a lot of BTC & ETH. These two assets are the oldest in crypto, and because of this, they contain all the liquidity in the market. Any altcoin has a mission for its founderโto gain profit: more BTC, more ETH, more USDT. Because of that, from time to time, we see weak altcoins and a strong Bitcoin. At this moment, they buy and pump altcoins a lot.
The top chart is Bitcoin Dominance against other tokens. And now (31 Oct 2024), we see Bitcoin at an all-time high and altcoins nearly dead. But wait for it; you will see that liquidity will jump into your favorite token.
The bottom chart is DXY, meaning the dominance of the dollar against other currencies. Thatโs why I think the Bitcoin team (corporations, not Satoshi) built a fiat-like system, and we should expand this theory to understand more.
Remember, the end of 2025 - the end of the bull market. 1 reply
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