From my previous post, I went all in when ETH reached 1725-1750 points, a level I considered sufficient for the ETH/BTC spread to bottom. Since then, crypto markets bounced strongly. Was this the bottom of the correction that began mid-May? I believe so. The correction took the shape of a triangle, as shown with the green lines on the chart. Now we are able to trace a channel connecting the previous cycle waves and draw a path for the cycle 5 wave.
This might be the biggest rally for altcoins! In the worst case, the ETH/BTC spread is going to do a truncation, in the best case it will go as high as 0.17 ETH per 1 BTC. The current ratio is 0.061 ETH per 1 BTC for a value of ETH @ 1980 points and BTC @ 32K points. This means there will be a serious decoupling of ETH vs BTC. If I had to do a comparison, we would be in 1999 today after a correction of 1998 in tech stocks due to the asian crisis and LTCM collapse (for those that remember the 90's). The tech rally from 1999 to 2000 was incredible and we may get the equivalent of that with crypto.
Please follow for more updates ;)
This might be the biggest rally for altcoins! In the worst case, the ETH/BTC spread is going to do a truncation, in the best case it will go as high as 0.17 ETH per 1 BTC. The current ratio is 0.061 ETH per 1 BTC for a value of ETH @ 1980 points and BTC @ 32K points. This means there will be a serious decoupling of ETH vs BTC. If I had to do a comparison, we would be in 1999 today after a correction of 1998 in tech stocks due to the asian crisis and LTCM collapse (for those that remember the 90's). The tech rally from 1999 to 2000 was incredible and we may get the equivalent of that with crypto.
Please follow for more updates ;)