The main reason for this forecast is that we are reproducing in a subtle, but quite close manner, the beginning of the bull market in 2015-16.
Btc had a strong push in Oct-Nov 2016, and behaved in a similar fashion as now, where it is consolidating at a rather high level, like it did in Dec-Jan 2015-16.
What happened after that, 3 years ago, is that major alts, like NEM, ETH, DASH... stagnated during 2-3 months, even broke slightly bearish for some, and suddenly exploded, while btc was correcting a bit. I think we are during this hesitation phase right now, and we just need btc to stay between say 10k-12k and we would be doing almost the same pattern as 3 years ago.
So to sum it up, I don't expect things to behave exactly the same way, obviously, but the dynamic right now looks very similar to the winter 2016-17.
Btc broke bullish in Oct 2016, consolidated, and ETH broke bullish only in Jan 2017.
All we need is btc to keep consolidating, and we're good to go for the alts.
See on the chart, it would be good to see an increase in volume soon.
Have a good ride if it does happen so!
Btc had a strong push in Oct-Nov 2016, and behaved in a similar fashion as now, where it is consolidating at a rather high level, like it did in Dec-Jan 2015-16.
What happened after that, 3 years ago, is that major alts, like NEM, ETH, DASH... stagnated during 2-3 months, even broke slightly bearish for some, and suddenly exploded, while btc was correcting a bit. I think we are during this hesitation phase right now, and we just need btc to stay between say 10k-12k and we would be doing almost the same pattern as 3 years ago.
So to sum it up, I don't expect things to behave exactly the same way, obviously, but the dynamic right now looks very similar to the winter 2016-17.
Btc broke bullish in Oct 2016, consolidated, and ETH broke bullish only in Jan 2017.
All we need is btc to keep consolidating, and we're good to go for the alts.
See on the chart, it would be good to see an increase in volume soon.
Have a good ride if it does happen so!