BITCOIN:USDT shows quite some strength with the recent PUMP towards 40K.
Most altcoins stop their uptrends when BITCOIN goes up, as most of the Supply of BTC and TETHERUS is used for BITCOIN instead of ALTS.
Right now we are in a tough spot, we could have BITCOIN continue the uptrend, causing most ALTS to stall or even lose value, or we could continue the trend for a while more, but the rejection of higher prices could potentially cause a drop in the whole market if traders/investors perceive this a sign of weakness.
I would advise keeping your eyes open and reduce risk maybe even get part of your profits into BUSD or other stable coins, could this be top? I'm not sure but we have to wait and see.
Most altcoins stop their uptrends when BITCOIN goes up, as most of the Supply of BTC and TETHERUS is used for BITCOIN instead of ALTS.
Right now we are in a tough spot, we could have BITCOIN continue the uptrend, causing most ALTS to stall or even lose value, or we could continue the trend for a while more, but the rejection of higher prices could potentially cause a drop in the whole market if traders/investors perceive this a sign of weakness.
I would advise keeping your eyes open and reduce risk maybe even get part of your profits into BUSD or other stable coins, could this be top? I'm not sure but we have to wait and see.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.