Alt Coins bleeding is due to traders building up their profile to be ready when BTC breaks 5K.
Since 5k has some resistance, BTC will take a day or two or more, and this is when traders accumulate more alt coins by dumping them into btc, causing btc to break 5k and go beyond after all the skeptics got on board btc's ride to 6k.
The traders will trade back for these alt coins that got traded for btc in the last few days, to catch even bigger swings. I'm thinking the alt coins will take their swings a day after BTC starts it's ascend to 6k.
This should cause more volatility after the next top, depending on how many skeptics accept BTC's inevitable forever upward trend.
The alt swings might push BTC even further than 6k after traders cash in for BTC at the top of the alt coins.
(When I say alt coins, I am saying alt coins that have core values "DYOR")
In anyways, DO NOT DROP YOUR ALTS that you believe in, if you have coins that you have no clue what they are, go look them up and decide if you believe they will have a future in this new crypto world that is fast approaching.
I am going to be taking alt coin profits after btc reaches 6K, and holding mostly btc while alt coins do their thing... I'll buy back at 50% dip, only those that looks like it will survive in the far future.
Thanks for reading all the way through my first interaction with Steemit!
Cheers!
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I am 27 years old living in South Africa, I am who I once wished to be, being me is key, but now that I am me I have something different to see. long live #CharlieLee