Adam Back: the real Bitcoin dominance index is close to 95%

Blockstream CEO Adam Beck said that at the moment, the Bitcoin dominance index is returning to a normal average of 90%.

He stressed that until June 2016, this indicator never fell below 99%, and until February 2017 – below 95%.

It's a reversion to mean: bitcoin dominance The whole thing lasts about 2.5years https://t.co/ECBwYHIhp6

– Adam Back (@ adam3us) September 10, 2019

Dr. Back is convinced that taking into account liquidity indicators and with the exception of USDT and other stablecoins from the calculation of the index, the real value is close to 95%.

Apparently more like 90% accounting for liquidity and removing non crypto like tether etc which don't belong in the index. Probably closer to 95% now, dominance rose a bit since. Not sure if the volume adjusted index is available realtime. https://t.co/MyWzIYc13L

– Adam Back (@ adam3us) September 10, 2019

Some analysts are counting on the onset of the so-called “viola season”, but the index is kept close to 70%.

Recall, the legendary trader Peter Brandt believes that the growth of altcoins is not expected. In his opinion, they will become useless stuff.

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