I am not gonna run a deep analysis on this one as the chart is pretty self-explanatory. It is obvious that since the March market-wide liquidation, the Alt Coin Total Market Capitalization (black line) is more in sync with the USD (blue line) than Bitcoin is (orange line). The USD (represented by the DXY) is of course inverted on this study (1/DXY) in order to match the trend of the cryptos as it is negatively correlated.
So why do Alts follow the USD's movement more tightly than Bitcoin? Can it be that more speculative capital is inserted into the BTC market cap as a measure against inflation due to the rise of cheap money (M1 increase)? It certainly makes an interesting case. Alts seem to be more synced with Gold's trend than Bitcoin's (I didn't want to fit this on the chart, as it would have made it messier than it already is). So if alts act as Gold, does that mean that Bitcoin will rise even more as aggressive speculation on cheap money heightens?
What's your view on this?
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So why do Alts follow the USD's movement more tightly than Bitcoin? Can it be that more speculative capital is inserted into the BTC market cap as a measure against inflation due to the rise of cheap money (M1 increase)? It certainly makes an interesting case. Alts seem to be more synced with Gold's trend than Bitcoin's (I didn't want to fit this on the chart, as it would have made it messier than it already is). So if alts act as Gold, does that mean that Bitcoin will rise even more as aggressive speculation on cheap money heightens?
What's your view on this?
** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
--------------------------------------------------------------------------------------------------------
!! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !!
🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> TradingView
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I trade Crypto, Forex, Indices & Commodities on PrimeXBT — all from one account with TradingView charts 👉 tradingshot.short.gy/PrimeXBT
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
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I trade Crypto, Forex, Indices & Commodities on PrimeXBT — all from one account with TradingView charts 👉 tradingshot.short.gy/PrimeXBT
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
免責聲明
這些資訊和出版物並非旨在提供，也不構成TradingView提供或認可的任何形式的財務、投資、交易或其他類型的建議或推薦。請閱讀使用條款以了解更多資訊。