Why it is important to keep an eye on BTC?

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If we look at the price of BTC

BTC Price $29139 It is down 0.66%

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The market is still digesting the news of the BTC ETF getting delayed.

In comparison ETH is at $1822 down 0.95%

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BTC Dominance is at 49.2% and ETH dominance is at 19%

The rest of the space is shared by the various other alt coins

Why do these numbers matter?

BTC is the big papa of crypto. What happens to the BTC space makes a difference to the entire crypto and more so to the entire alt coin space.

The bear market has taught us some interesting lessons

When BTC falls or corrects the alt coins fall harder

Lets us check the alts from top to down

BNB is down 2.15%

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XRP is down 5%

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Doge coin is down 6%

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Cardano is down 5%

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Normally when there is weakness in the crypto markets the money exits from crypto alt coins to stable coins and in some cases fiat.

Since BTC and ETh are the most trusted coins with the highest market cap thus money tens to rus out of the other alt coins out at an accelerated pace.

This showcases a trend in alt coins

For every percentage drop in BTC the alt coins drop several percentage points.
This can be seen in the price and the charts.

When BTC rises the trend catch up takes a while to catch up

When there is a trend reversal and BTC is on an uptrend, money goes to the stronger assets mainly BTC and ETH.
Once the prices of these two coins stabilize then it starts moving to the alt coin space.

The dips are all about buying

Well most of the big moves come about in response to the big whales that move their money bags.

For the retail investors the best option is to educate oneself about the price technicals and fundamentals.
Besides this it is all about following the market trends.

watch the charts till it falls to the support levels or there is a trend reversal. That is the time to enter and make fresh purchases.

Keep some money parked in the stable coins

For such dips one should have some money parked in the stable coins so that using those funds one can make incremental purchases in the alt coins where we see value emerging.
In this fund allocation one should also accumulate BTC and ETH

I bought the Leo dip to buy leo

A few days back the leo token price experienced a dip as it was in excess of $0.08 cents but it corrected to $0.06
At that point I made some purchases because I wanted to have some leo for the LPUD

Currently the leo price is at $0.0464207 as can be seen from the hive engine.
This is another opportunity to buy more leo tokens.

Every LPUD is special

Every LPUD or leo power up day is an opportunity to grow our leo tokens power or LP
I have been incrementally building my leo stack and with this LPUD I have a total of 1000 LP as a result of the Leo tokens that I have staked.

Slowly I am growing my LP and my next target is 2000 LP

With the last LPUD the leofinance team has modified the rules for the LPUD participation.
Users can do 50 Leo staking and be eligible for a LPUD prize.

Though those who stake 150 or more Leo are eligible for a bigger delegation.

Posted Using LeoFinance Alpha