Not the time to sell crypto! But....
First, we need to look at the big picture. Gold is flying...
And as you can see (and read here: bnnbloomberg.ca/bitcoin-is-dancing-in-tandem-with-gold-again-1.1298137) Gold is recently becoming highly correlated to BTC.
So, would I sell it here with Gold flying? No way...
BUT!!! BTC entire move up came at the expense of the entire crypto segment (BTC.D took off like a bat out of hell) - at 70%+ it's not sustainable. So how does the market re-adjust? BTC needs correction and the stronger secondary coins need to fall less...
It's this reason I am bullish on BCH...you can probably also look at BSV...and maybe be careful with BNB.
What is likely to happen here is BTC will trade a bit lower, but there must be some adjustment in the dominance to BTC. What form that takes is unclear now, but if 5% comes off the table, then thats goong to add market cap to many other coins.
1st, don't rush to sell the crypto segment, but look to buy secondary coins likely to benefit. I like BCH here myself.
And as you can see (and read here: bnnbloomberg.ca/bitcoin-is-dancing-in-tandem-with-gold-again-1.1298137) Gold is recently becoming highly correlated to BTC.
So, would I sell it here with Gold flying? No way...
BUT!!! BTC entire move up came at the expense of the entire crypto segment (BTC.D took off like a bat out of hell) - at 70%+ it's not sustainable. So how does the market re-adjust? BTC needs correction and the stronger secondary coins need to fall less...
It's this reason I am bullish on BCH...you can probably also look at BSV...and maybe be careful with BNB.
What is likely to happen here is BTC will trade a bit lower, but there must be some adjustment in the dominance to BTC. What form that takes is unclear now, but if 5% comes off the table, then thats goong to add market cap to many other coins.
1st, don't rush to sell the crypto segment, but look to buy secondary coins likely to benefit. I like BCH here myself.
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