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Bitcoin dominance is a worthless, misleading nonsense of a metric.
It is hypocrisy to tout it as being relevant when bitcoin's dominance is rising, and then to dismiss it as irrelevant when it drops.
There's some comments on this in another post, found here on SN:
Why Is Bitcoin Dominance So Much Lower Than in Previous Bear Markets?#105359https://www.coindesk.com/podcasts/the-breakdown-with-nlw/why-is-bitcoin-dominance-so-much-lower-than-in-previous-bear-markets [Archive]
In my opinion all these different views are just views and does not change the fundamentals of Bitcoin at all. However For many it is important to see these variations in relation to their dominance. I agree with your comment.
And
Bitcoin Dominance Hits 40% As Alts Crash#115091https://coinmarketcap.com
40 minutes of TA?
What's the TL;DR?
Don't take charts seriously, just focus on Bitcoin's protocol and its ability to store time value for the future.
Bitcoin dominance is a worthless, misleading nonsense of a metric.
It is hypocrisy to tout it as being relevant when bitcoin's dominance is rising, and then to dismiss it as irrelevant when it drops.
There's some comments on this in another post, found here on SN:
Why Is Bitcoin Dominance So Much Lower Than in Previous Bear Markets?
#105359
https://www.coindesk.com/podcasts/the-breakdown-with-nlw/why-is-bitcoin-dominance-so-much-lower-than-in-previous-bear-markets [Archive]
In my opinion all these different views are just views and does not change the fundamentals of Bitcoin at all. However For many it is important to see these variations in relation to their dominance. I agree with your comment.
And
Bitcoin Dominance Hits 40% As Alts Crash
#115091
https://coinmarketcap.com
40 minutes of TA?
What's the TL;DR?
Don't take charts seriously, just focus on Bitcoin's protocol and its ability to store time value for the future.