We are seeing some really good bullish action from Bitcoin and many are wondering what will happen next!
The altcoins have been growing in the tune of 100-200%, and many growing 300-500% and even more... As these many altcoins pairs and project correct/retrace, money flows out and moves to Bitcoin as Bitcoin grows.
The Bitcoin Halving event is expected to take place in May 2020. Now, even though the halving is always viewed as a bullish event, what happens before it is a strong drop/crash in prices.
So we are seeing Bitcoin prices move up now so they can have one final strong bearish leg before/during halving, in order to produce strong long-term sustained growth afterward.
When the current bull rally ends and a peak is reached for Bitcoin, the retrace/correction follows and that's when the turn for the altcoins will come.
If it takes Bitcoin 3 months to complete the final bearish wave, just as an example, you can expect 3 months of astonishingly strong altcoins bullish action.
This is just a general market prediction and not a technical analysis nor a signal to take action. For any buy/sell decision, remember to do your own research and always have a plan before you decide to trade.
This is Alan Masters... Thanks a lot for your support.
Namaste.
Comment
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I appreciate the analysis as always. Since BSV and BCH also have the same halving wouldn't this hold true for them as well even tho you mentioned ALTS are looking good? Those two seem to be directly tied to BTC unlike other lower cap ALTS and the halving comes a month earlier I believe than BTC's.
AlanSantana
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@ashv, I would have to look at each chart separate as they are not the same as BTC.
They can be related or not we always treat each chart separate.
I can't say what will happen to BSV or BCH based on a BTC chart.
Namaste.
EchoTheTrader
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@alanmasters, Bro, you can't say what happens with anything. You're such a crappy TA person putting such false crap out there it's mind blowing. Hey dude, tell me about SPND and that giant hike again??? I can't tell you how huge a loss that was for me for your shit TA. You're an idiot. Fuck off with your shitty TA.
brandycamacho
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Forecasting shows a potential dip. Looks like things might start heating up soon :)
An interesting thing was that during the Iran/US conflict, bitcoin went up as well as gold. The smart money went into gold, but the spike in BTC was also interesting to see. If tensions continue to calm, we can see gold drop down back to sub $1,500 and BTC may sell off back towards $7,000 or lower.