Well spotted. Thanks for showing this. I've been watching the same thing on a different set of Alts. The important thing now is that if Bitcoin takes of north, then Alts are likely to go exponential in growth, based on historical patterns. So, for people like me with a real portfolio in Alts and cryptos, I'm standing firm.
smilingllama
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@Captain_Walker, thanks for the comment! I think the rallies seen in some alts is a positive sign for things to come, coupled with large spikes in volume, it shows interest in the alt market again. A strong move from bitcoin towards the end of Q4 could likely see another bull run across even more of the altcoin market (some high cap alts are still sitting fairly flat right now). However, an immediate strong bull rally on bitcoin will suck some of the volume away from alts as people will want to catch the usd gains on btc...
Captain_Walker
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@smilingllama, Great stuff. The alts are so dirt cheap on average now. So I dunno why people are rushing madly after Bitcoin and Ethereum. Some of the technological capacities of the alts also far exceed the mum and dad of cryptos. Methinks the alts are much better value for a position size now: low limited loss and potential massive equity gains. But markets are a bit crazy.. so 'anything can happen in the next 24hrs'- Thunderbirds are GO!! LOL
smilingllama
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@Captain_Walker, indeed! Keeping bias sidelined, this could all be a final sell off before further btc downside... I just don’t see it :)
Agree with you though, now is the time to be stalking those alt charts. Exciting times ahead. All the best!