i did too, yes, i thought altcoins could go up when btc went over 10k.
reality, is no.
reason why, is all in the chart below.
you see, when btc had halving in 2016, dominance was over 90%. now we are at 67%.
resistance is around 70, which can be 14~15k area. i don't think price can soar up the resistance easy, but,
i think it will eventually go up 70, to 90%.
then, what would happen to altcoins?
it will die. except some like eth or major coins, most of the altcoins will just go to HELL.
now we are seeing many altcoins bleeding, most at their supports, critical ones.
some coins like stellar lumen, it broke down weekly baseline and conversion line, going back to hell.
of course, pumping would come time by time. but,
we have to think bigger. alt season could come after the btc halving. that is, next year April, may.
before that, alt coins could keep bleeding, after little bounce after bounce.
if btc soars over 67%, 70% dominance, things get worse for altcoins, they will be diminished. btc would go all time high.
best
Note
trump mentiones btc as not a currency. huge possibility us financial regulatory will represent some regulatory issue soon. this could indicate much further drop in summer.
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