Bitcoin is currently recovering from a pullback in price on the flip-side Alt-coin dominance is still very bullish. This week the Game-stop, Robbinhood debacle; not to mention the stock market pull back has left retail and institutional investors alike looking for gains elsewhere. Crypto currency has proven to be the next best option. With money inflows into the crypto market cap as a whole reaching around $1.1T. (See chart A)
However, it is notable that the Alt-coin market is approaching ATH levels. Currently Alt-coin market capitalization not including $BTC is sitting at $350B above resistance now turned support with a high of $450B. (See chart B)
The Alt-coin dominance (ACD) chart supports our analysis. ACD has broken out now at 8% headed towards 9% levels. (See chart C)
With new money coming in from stock market we can expect various alts coin prices to pump exponentially. Will ACD reach 10% by march?
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