Anatomy of BTC-ALTS Relationship: Makings of a MEGA Bull CycleLong gone are the days where it's a simple "BTC UP, ALTS DOWN" and vice versa.
In fact, I would say that it now resembles more of a general "BTC UP, ALTS UP" and vice versa, though it's not as simple as that, with many small waves within waves, each with its own unique characteristics.
However, in the grand scheme of things, you can probably tell that both go up in tandem in the largest trend. Also, there is some pattern we can glean from this, but you really need to delve deeper into the price action comparison between BTC & ALTs since beginning of 2017 to get a clearer picture of the characteristics of the "waves within waves".
Economic Cycles
Civilian Employment to Population Ratio -great toolThe head and shoulders formation is a classic sell setup that traders are familiar with. A close below the neck line is a sell signal for traders. Well, as you can see this was a signal of an economic downturn and it predicted it in the summer before the market crash in the fall. This would have alerted people to prepare for the impending doom and for traders to sell short like Dr. Michael Burry of Scion Capital did with his hedge fund. The market low was set in the spring but the employment low occurred later. The previous lows set in 1961 and 1975 gave an angled level of support at which the recent 2011 low was set. We are now at civilian employment to population ratio levels of 1985! Let that sink in, 1985. This was a severe economic crash that we have yet to recover from. This data is from 1948 until 2017. I wish it started with data before the crash of 1929. What pattern was given then to signal a crash? I think this is a chart to keep an eye on every now and again.
The Road to Obsolescence: A Seven Year Cycle in Bitcoin. By 2023 we will be living in a very different world. Cryptographic money may be common, but the layman will not know that he's using it. This money, however, is not Bitcoin. After years of failing to adapt,to its rapidly advancing technological environment, BTC slowly fizzles out into obsolescence.
But the vision of Satoshi is not forgotten. The very meaning of the word "cryptocracy" is being flipped on it's head. The shadow government is loosing its grip on the people, cryptography and blockchain technologies are not only empowering people to take control of their wealth, but also to make their voices heard. True democracy is enabled through the means of provably fair voting systems and smart contracts. Now there is no need for trust, and thus no need for representatives. The people take back the power and are able to govern the world by majority consensus for the first time in history.
Bitcoin will go down in the history books as one of the first stepping stones to the new society. It is a pioneer and we learned a valuable lesson along the way: to once again never trust a single group with the control of the money supply.