Take a look at BNB - Binance token. It remained almost unshaken in the last dips... and has pretty strong chart compared to btc.
It doesn't do well on btc bull runs though.
Now ask yourself why is that, and what does this tell us about the market.
- It is BTC resistent in the latest, worst dips... why?
Binance is one of if not the biggest strongest, crypto company of all. They handle stuff well, and they improve. They make more profit than mid sized banks, meaning their token has a REAL value.
Now this brings us to
- why it doesn't do well in crypto bull run?
Again, which coins did best in 2017? Shit coins — when market sentiment was super bullish. BNB doesn't stand a chance, noone believe that tomorrow bnb will turn one exchange into 10 exchanges... they are what they are.
How did the bull run happen in the first place?
In early days there was Satoshi and the crew — the last thing on their mind was to get rich quick, and they built something with passion that was valuable.
Then came guys who said: "hey this is great, we can do also this and that"... and they started building.... all good, passionate projects...
then as Bitcoin came on radars of more average folks, came the opportunists, who wanted to make money fast by developing anything, not caring about the product — and thus shitty icos came to light.
Those shitty icos went ballistic as people expected them to be the same quality projects like the ones until then.
2018 is the nasty surprise, they were shit, and the market was no longer willing to tolerate it...
Binance token being resistent, shows us that the market screams for good projects again, and we are coming in the new phase of filtration — more strict, and more use-specific.
In that same run btc grew a bit faster than it was supposed, so this year was the correction... however, now that more money is exiting alts, it is entering bitcoin. My bitcoin analysis is still accurate, although the possibility of one week extension might happen. We will see. It's playing now dangerously in lower levels that are also accumulation on daily... however now, you're not investing in hyper overvalued bitcoin,you're investing in more mature, serious, meaning-business bitcoin that will grow.
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