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UnknownUnicorn6102068
Dec 28, 2019 12:57 PM

Alt-Bitcoin Ratio at linear downtrend 

TOTAL2/BTCUSD/30.557/1000000CRYPTOCAP

Description

Hello buddies, alt-bitcoin ratio at linear downtrend. Alt-bitcoin ratio is alt market cap divided by bitcoin price. This idea I take from Tradingview user @RealMcafee . Here I normalise chart.

Shown is monthly chart with 6 month moving average. Why 6 month? Well, to convert from daily to monthly time frame we divide number of days of average by number of days in 1 month. Crypto is traded 24/7 so we divide 200 by 31 and get 6 (after rounding). So 6 month moving average is 'like' 200 day moving average if we assume 31 days in 1 month. OK?

we see alt bubble deflation at a crucial point. Breakout here can lead to big gains over bitcoin, but dump here can be massive. This is a high risk entry zone. I remind, alts have zero usecase. No one is using alts except fringe people, therefore we know all alt prices are highly over-inflated still (same bitcoin).

Does not mean it will dump now.

This is not any advices for trading financially.

Comments
PavelNG
This is not true - "alts have zero usecase"!
It is written as if bitcoin is already taken in every shop. This is all one big experiment. Thanks for the schedule, really very interesting!
Ky8
@PavelNG agree! Alts really happen only at the end of 2015, so they are at the start point now. It’s all about technology evolving into something new, it is trying to find the use cases and get examination on practice. Bitcoin is different, it gave us a knowledge. And of course, I think it’s too early to talk about bubble.
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