It looks like the red wedding for most altcoins, but I'm not convinced this isn't more than a short dip.
Is the new money flowing into BTC and ETH propping the prices up short-term, can we expect it to flow back into altcoins once the people see they can now buy at much lower prices?
As you can see from Coinmarketcap.com the 1hr deltas are starting to turn green, possibly signalling a flow of funds back into altcoins.
I also accept the possibility that some of, if not many of these altcoins are overpumped by fomo, and that many of them could see their values half in the short term (~1 month).
I am curious to get a discussion going around which alt-coins in the top 50(flexible) do people think are overvalued, and which people believe have the most solid fundamentals to survive and provide real value to businesses, consumers, producers and holders in the long term.
From my experience, I look for opportunities where I can find an active community, a solid team of developers, the best crypto solution to a real problem, and something that has not mid-pump.
Thanks for reading, like if you would like to see a discussion form around this topic.
Best,
Pandas
I think many people can agree that alot of the upwards pressure is due to arbitrage opportunities in South Korea, BTC is ~$3800 there. Unless the S. Korea market is enough to bring and hold a high BTC price for the world, I don't see how BTC does correct back to around $2500 , pushing funds back into alts.
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