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The other thing I'm concerned about with this analysis is that typically, if BTC goes down, it drags the entire market down with it. SO if this is just a minor corrective rally from the most recent major bear market and the price of BTC corrects again to as low as 5-6k, won't the price of ETH continue to fall as well?
I'd like to see a market which is independent of BTC price movements but right now it's completely dominating. If BTC went down to 5k and ETH rose to 1k, as you suggest, it would be an unprecedented event, wouldn't it?