Current market volume is 800 billions ( it is a little bit lover but let's say it is 800 billions )
Current BTC dominance is 35.5% and just month ago it was at 68%. Let's say, 68% won't be reached but what would happen if BTC reach 1) 50% and 2) 65% in next few weeks ( 2-4 weeks ). I just want to show you my analyze and it could be worng but everything will be based on maths and let's try to predict potentila BTC gain.
We will choose 3 possible situations: 1) volume will drop to 600 billions, 2) volume will stay same at 800 billions and 3) volume will jump to 1000 billions = 1 trilion.
1st situation
BTC dominance jumps to 50% and volume drops to 600 billions. BTC volume would be 300 billions so BTC price would be 300/16,78= 17.87k
2nd situation
BTC dominance jumps to 50% and volume stays same (800 billions). BTC volume would be 400 billions so BTC price would be 400/16.78= 23.83k
3rd situation
BTC dominance jumps to 50% and volume jumps to 1 trillion. BTC volume would be 500 billions so BTC price would be 500/16.78= 29.79k
4th situation
BTC dominance jumps to 65% and volume drops to 600. BTC volume would be 390 billions so BTC price would be 390/16.78= 23.24k
5th situation
BTC dominance jumps to 65% and volume stays same. BTC volume would be 520 billions so BTC price would be 520/16.78= 30.98k
6th situation
BTC dominance jumps to 65% and volume jumps to 1 trillion. BTC volume would be 650 billions so BTC price would be 650/16.78= 38.73k
If you are curious why I am using 16.78, it is actually circulating supply of BTC ( 16,78 millions )
So as you can see, only 1 situation predict that btc will stay under 20k that's why I am so bullish on BTC and why I am holding only BTC at the moment for trading. Of course I have KuCoin, Utrust, ethos, strta but it is not on my exchange for trading. These coins are for long-term I am not even thinking about them. So I hope you understand now why BTC could spike up very soon. Even when whales start booking profit on XRP, at least 30-40 billions will come to BTC from XRP
Informative post! Thanks for the info. You earned yourself a follower! :)
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Thanks✌✌
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Crypto market will dip more it's that true???
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Crypto market will dip more very soon....
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i agree with u
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This post has received gratitude of 0.72 % from @appreciator thanks to: @rihaan.
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Thank you @rihaan for promoting this post together with https://steemit.com/budget/@jerrybanfield/introducing-steem-budget-proposals
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