Experienced trader, Peter Brandt, who became popular when he predicted the fall of Bitcoin (BTC) in 2017, believes that the top cryptocurrency will outperform all other digital assets.
Brandt pointed out to his 696,000 Twitter followers that he closely monitors the Bitcoin Dominance Chart (BTC.D), which shows how much of the total cryptocurrency market capitalization is owned by BTC.
According to Brandt, BTC.D looks poised to climb even higher, after consolidating into one big rectangle for about two years.
What BTC.D shows
An upward chart of BTC.D essentially shows that Bitcoin is taking a larger share of the overall cryptocurrency market capitalization. One could argue that either Bitcoin is increasing in value faster than all other cryptocurrency assets, or that altcoins are losing value faster than BTC.
Looking at the chart Brandt created, it seems that BTC.D needs to surpass the 50% level in order to begin an even greater dominance in the cryptocurrency industry. Right now BTC.D is very close to this threshold, as its dominance reaches 48%.
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