My crypto index (market cap of top 10 coins added together) has revealed a double top formation. I am hope full that the double top pattern does not play out, and the index is testing the resistance level in anticipation of breaking it. Post fork, if alt coins rally, expect the resistance level to be broken. Watching closely...
most probably won't broke ppost fork as many people will hedge again usd and many will against ALT_ - hard to imagine new money flowing in.
malloofiscoofis
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@tshah, definitely a potential scenario...Either we have a situation similar to the last fork (money in the market switches into alts out of BTC, and consistent inflow of new money), or we encounter the first real crypto bear market that will extend to Jan 2018.
football3958
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@adoukas, @tshah, both the correct way to look at the potential scenarios. I am with adoukas although, I think alts will boom, Ltc just rejected .01, looking to bounce hard off .0066. I think money will def move into alts. While thinking we will see .03 again in 2018.
tshah
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@football3958, it will but will take time- we won't see a huge pump like mid of the year- we havent seen the accumulation phase
Trader6127
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@tshah, yeah, if you take a peak at the coinmarketcap.com data (particularly sector dominance) it looks grim for alts as we formed a lower high. I don't buy the "rotation thesis." Profits will go to fiat currencies, precious metals, etc.
@agency, Agreed perfectly. Hedging against those is better option.I am still going to HODL my coins but yeah i have seen alts portfolio going REKT for a lot of people including me. Fortunately it was only 20% of overall portfolio. Risk management!