Hey Haeji for once would love a reply. I have to understand something, if BTC is due for a sizable down trend like in the graph above and we know that when BTC bleeds alts bleed how is it possible that all the other graphs do not correlate with BTC future prices?
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I believe while BTC takes the time to reach $7,200 or so, Alts will make their moves.
I call it phasic (in phase) and non phasic to BTC. Currently, Alts are in phasic.
That's my question as well. Will altcoins go down along in bitcoin downturn? Do you recommend to exit all coins & stay in cash soon?
If the bitcoin correction is of the magnitude that Haejin is suggesting, I would expect all alts to drop considerably and many to blow up completely. He is suggesting bitcoin dropping ultimately to under $500, that's a 90% drop. If that happens, the vast majority of people will back out of crypto entirely, especially those who only bought in recently. People will lose there shirts. There will be blood on the streets etc etc. That's when to buy back in! Buts that's if.....
Yeah guys, as @haejin says, "Bitcoin is the moon that pulls the alt-coin tide". In other words YES alts will drop with Bitcoin drop. He also stated in this blog and many other that he will be selling out of almost all coins on the bitcoin wave five of five.
And in my opinion a possible reason the alt charts don't match this bitcoin chart is it hasn't happened yet, and no one knows exactly when it will, so the other charts are just going on their merry way. Once Bitcoin starts a decisive drop the alts will follow close...
Some alts will not ride the same boat as the BTC in the coming few weeks only a short term moment as per norm this is "different times"strange measures have come into play not seen in the last while for trading . Wait, watch, and see.
Thank you Kindly
Agreed.
Most of the gainers would be below top 100 or even top 200 cryptos that aren't even traded on most exchanges. BCH could become an exception. Good news from China might make few more exceptions if it happens.
InDeed. BCH will be one as it trades in opposition with Bitcoins Bigger Fluxes and Momentum movements at most times.........and as well the lesser ones where the bases can be formed per few Billion for many coin at a time for quicker movements. A "Flow and Go'.......Myself i see 9 in the top 100 set to move upwards forming base prices for some big movements.
Thank you Kindly
never rely on possibilities. only probabilities
I like that!