The market continues to build momentum off of the Ethereum rebound, which is happening just in time for the upcoming fork. From a technical level on Bitcoin, I would agree it is possible that we go lower, however, the Ethereum bounce has indeed help generate a higher high and higher low on the overall MCap & that is very significant in relation to prior levels and bounces in this downtrend.
The contribution by made by Ethereum to increase the overall market cap and increase liquidity has once again put the hopes of the bulls high. People are linking 2019 with the Chinese year, “Year of the Bull” and that this year might bring the movement in crypto that the investors have been looking for.
Also explaining his observations relating to BTCs dominance and how it may decrease, Eric Thies said,
Another relationship I’m watching closely is alt pairings with Bitcoin as a whole because new options for alt/fiat purchases on exchanges may have enabled investors a direct route to their token/project & more importantly, a movement away from bitcoins dominance.