I think that a lot of people are missing the correlation between the crypto currencies and the overall market. The markets around the world have been rising and cryptos along with it. When the markets corrected over the past couple weeks cryptos corrected with it. The clues as to the next move in the crypto currencies can be found by watching the global indexes. The current market seems to be trending higher so cryptos will be following along. However, I think that we're going to see increasing volatility before the next major down move so I would be very cautious.
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Agreed. Overall, bitcoin has something like a +.1 correlation with the US stock markets. Which is not very high, but recently, that correlation has been much stronger.