Another comprehensive analysis on the crypto market, with a special emphasis on altcoins. Covered in this video are: VET, ETH, BAT, NEO, ONT, BNB, LTC, XLM, and BTC. It's a lot.
For those that don't feel like watching the whole thing:
Basically, it appears that established altcoins are starting to make new 2019 USD highs one by one. It started with Litecoin...then Bitcoin...then ETH...
Interestingly, the Binance IEOs (not covered in this video) and BNB are finally taking a hit on their Bitcoin ratios. Looks like people took their profits and ran. Also, the last time ETH/USD price went up with the ratio dropping like this was in late 2017, right before the alt rally. It could still capitulate to some lower levels on the ratio, but for me it seems a bit too late to scale out of my alts into Bitcoin and try to time some quick moves. On the contrary, I think a lot of people are looking for entry points on alts. I saw someone post on Reddit yesterday, "I saw the VeChain news and decided to throw some of my Bitcoin profits at it." This is the sort of attitude that leads to alt season. This also means that Bitcoin might be close to a medium term top.
Regardless of what happens, I'm in this for the long haul, and I'm happy with my crypto portfolio, for the most part : )
This video is not financial advice. Just me rambling about the market. I do this for fun, and for educational purposes. Thanks for your support!
-Victor Cobra
For those that don't feel like watching the whole thing:
Basically, it appears that established altcoins are starting to make new 2019 USD highs one by one. It started with Litecoin...then Bitcoin...then ETH...
Interestingly, the Binance IEOs (not covered in this video) and BNB are finally taking a hit on their Bitcoin ratios. Looks like people took their profits and ran. Also, the last time ETH/USD price went up with the ratio dropping like this was in late 2017, right before the alt rally. It could still capitulate to some lower levels on the ratio, but for me it seems a bit too late to scale out of my alts into Bitcoin and try to time some quick moves. On the contrary, I think a lot of people are looking for entry points on alts. I saw someone post on Reddit yesterday, "I saw the VeChain news and decided to throw some of my Bitcoin profits at it." This is the sort of attitude that leads to alt season. This also means that Bitcoin might be close to a medium term top.
Regardless of what happens, I'm in this for the long haul, and I'm happy with my crypto portfolio, for the most part : )
This video is not financial advice. Just me rambling about the market. I do this for fun, and for educational purposes. Thanks for your support!
-Victor Cobra
评论:
Apologies. Forgot to move my lower LTC trendline in the video. Here it is, for your viewing pleasure. This means that if it has topped out on the ratio, it could head down to 0.008-0.009 and still be in the triangle.
