We are experiencing a purge in my opinion due to large exchanges and institutions buying bitcoin
. They are trying to HODL bitcoin
not your shit coin. Due to this you will notice that BTC
dominance is at all time highs, and it might be even worse. It might get to the point where ALTS will get crushed into oblivion. You can see the results in the shitcoins vs. btc
. Even ETH is showing signs of being purged out by the bitcoin
price rise. At the same time last year ETH was at $800-900 when btc
was at these levels. It shows that we are WAYYYY underpriced due to this 'Purge'.
A good rule of thumb is to hodl and own bitcoin
and keep your portoflio with 10-20% shitcoins if that. The fact that bitcoin
is taking over the market dominance is a great sign we need to get rid of this garbage before we run up. I still think we are in a fools rally and we should return back to $7-8K and then possibly dip below to $5-6K.