I put two arrows on this chart to simply show that on the 1D chart, we haven't begun our correction pattern yet, not even close! In fact it looks like we are due for another peak in about a week or two... which would put us right in line with the ATH Bull Run that brought BTC to $20k the first time, and all the other coins to their ATH's. I think, in the last 2 weeks of december we are going to see our alt rally FINALLY happen and from there who knows!
The one thing that I feel certain in saying is that the correction from the 2018 Bull run took 2 years to reverse, which was twice as long as before, and the entire Crypto currency market was dependent upon the movement of BTC. We have never seen a market that functions independently of BTC. We have seen coins that may deviate to some degree or other but for the most part the actual Bull or Bear status of the market is 100% up to the behavior of BTC. So with that being said I believe the new ATH, with the appropriate multiplier of x4 - x10 (the average difference between ATH's with BTC) will be witnessed in 2021. I also believe that january will be the return of the ATH for the alt currencies. I will be planning my trades accordingly!
What do you think?
The one thing that I feel certain in saying is that the correction from the 2018 Bull run took 2 years to reverse, which was twice as long as before, and the entire Crypto currency market was dependent upon the movement of BTC. We have never seen a market that functions independently of BTC. We have seen coins that may deviate to some degree or other but for the most part the actual Bull or Bear status of the market is 100% up to the behavior of BTC. So with that being said I believe the new ATH, with the appropriate multiplier of x4 - x10 (the average difference between ATH's with BTC) will be witnessed in 2021. I also believe that january will be the return of the ATH for the alt currencies. I will be planning my trades accordingly!
What do you think?