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Just thought of a new meter that seems like it would be useful for ML to figure out: BTC Dominance. Having a meter such as this would help traders decided whether to make BTC or alt trades.
For example, if we knew the Market Index is up, and the “7-Day BTC Dominance Trend” was “Bull Market Strengthening”, then it might make sense to take on more BTC longs. If the Market Index is up and the BTC Dominance is trending down, then it might make sense to take on ETH, LTC, and/or BCH longs.
In other words, it might help us identify the next “Alt Season”, if there ever is one LOL.
I like it! And yes, I’ve been waiting for Alt Season for a looooong time now. 🙂
The mechanics of this certainly seem doable. The other advantage is it might allow you to reallocate and optimize your longer-term (non-trading) portfolio as conditions change.
I’ve added it to our backlog to review and consider. Thanks @kw!
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