Yes, I find this to be the only variable that has changed during this cycle. And let me tell you, I'm not bearish on altcoins. I simply think there isn't a sufficiently strong reason today to justify a transfer of value from BITCOIN to other cryptocurrencies, whether we call them ETH, XRP, SOL, or... HIVE, although I disagree slightly on the latter.

Today, Bitcoin has pushed a little higher again, even if only by a few tens of dollars, its upper limit.

In other words, we've reached a **new ATH** after the one reached on May 23rd.

Obviously, following the **usual dynamics** in these cases, the reaction of the rest has been consistent, and the entire crypto market, in general, including **HIVE**, has moved **timidly** upwards in parallel.

In fact, in the Bitcoin dominance chart, we've even noticed a decline...also timid.

![](https://images.ecency.com/DQmaZvois13kE3VnsSVUjwxehnwUbFGnQDPZcP8C4UMCYBQ/)

However, we've been noticing this type of dynamic for many months, don't you think?

**Bitcoin rises ==> Dominance falls timidly ==> Altcoins rise timidly ==> Bitcoin falls ==> Altcoins flow towards Bitcoin again (Bitcoin maintains the range and altcoins drop in price again), as a consequence, ALTCOINS keep losing value while BITCOIN holds.**

To break out of this dynamic, it's necessary to create a context that's sufficiently attractive so that it's not just the price of BITCOIN that drives the crypto market... and this, as of today, simply doesn't exist; in other words, there's no expectation that's sufficiently compelling to justify investing in a specific altcoin.

It's as if **creativity has diminished**, and this shouldn't be a negative condition;

It could indicate that the market no longer moves solely on pure speculation in response to one announcement or another... **more effort is needed for someone to decide to invest**, for someone to **BELIEVE** in the project and decide to "take the risk" with confidence.

The simple **mechanical cycle** of "**BITCOIN goes up, then ETH goes up, then MAJOR ALTCOINS go up, and then everything else**" isn't enough.

Or at least, that's how it seems to me.

We have to wait and **not gamble our sats** too soon.

Things have gotten complicated, although, obviously, there will always be someone who has gone all-in on one or two altcoins that eventually gain momentum and take off... but that, my dear friends, has a very **low probability** of happening to us, IMO.

As always, we have to wait... a little longer.

@toofasteddie