As I'm second guessing the BTC market so I was looking at the trends from another angle - I crudely drew in the Coinmarketcap total market capitalisation. BTC directs the market but if the whole market is correcting then it is worth noting that the market is still off previous bottom and has a declining trendline. Yep more FuD but I think many want to buy and sell ALTs rather than just BTC so it is worth noting.
- Currently 8% off April's bottom.
- which indecently is 14.5% below February's bottom - declining trendline.
- If you follow that trend it takes you to a total market cap of $212bn. This is a further market drop of 21% however I would not necessarily apply this to BTC (it would take it to $4,900) but other ALTs would take heavy losses - Take out BTC from this equation (Feb $170, April $139 and currently at $160) the forecast drop is 34%.
Lies, damn lies and statistics. Hard Forky
- Currently 8% off April's bottom.
- which indecently is 14.5% below February's bottom - declining trendline.
- If you follow that trend it takes you to a total market cap of $212bn. This is a further market drop of 21% however I would not necessarily apply this to BTC (it would take it to $4,900) but other ALTs would take heavy losses - Take out BTC from this equation (Feb $170, April $139 and currently at $160) the forecast drop is 34%.
Lies, damn lies and statistics. Hard Forky
Comment:
BTCShorts might support this
Comment:
Sorry - should not assume that the price matches the cap
