Because of Bitcoin price may sky rocket, are altcoins being squeezed out?? Some traders expecting Bitcoin ETF to happen may sell off many of their altcoins to get bitcoins, so they catch the fiat rise of Bitcoins. Coins that trade in fiat directly, would be a deal for traders.
Are we seeing a triangle forming. Traders selling their altcoins to get bitcoins, at the same time fiat traders buy the low priced altcoin. Eventually this dynamic may chance after the Bitcoin ETF. You see an altcoin go up 20%, than back down to 20%, the seesaw battle.
** Disclaimer This blog is based on my opinions. I am not giving professional advice. Anything written here should be taken as an opinion and is the responsibility of the reader to take due diligence as such. Basically saying I may be wrong, right or neither, just saying its my opinions and my voice.
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