Many have become so used to BTC's strength, so it's made them feel like TA is easy. It's easy to go long after a price dip because we knew the overall market's were bullish.
But people don't get it- crypto's behave differently than other markets. Everything rides on BTC. And if any of you say, "No, Litecoin's different!" then stfu and go away. Maybe one day but right now.
Don't you get it? Bitcoin is the foundation of cryptocurrency. And it's about to hard fork. It could be August 1st, or if Segwit2X and UASF somehow stay on the same chain, then the Segwit2X folks are going to hardfork to increase the block size in a few months. Then there are proponents of Bitcoin Core who have talked about a POW fork. Guys, something's going to happen and we're talking tens of billions of dollars that are on the line. There's a cyber war going on- on one side there are miners and white-collar businessmen with TONS of money in infrastructure that are hell-bent on creating a centralized, digital financial system, on the other side a grass-roots, vibrant, intelligent community who wields a weapon called a UASF node. In this war, your shitcoin is so fucking worthless.
I'm not saying to sell BTC. On the contrary... take your profits now from your shitcoins, buy Bitcoin, and hodl. Run a UASF node. And stop making your shitty long calls on KittyCoin and Methereum.
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First target hit at 1850.
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Shorting this all the way to 1350. Second target and profits at 1650. I'm so eager for vengeance. Too many people thinking BTC is immune to natural patterns.
But don't misunderstand, my debit card will be getting hot at the bottom, because we're going to 10k by the end of the year.
That's good, but a little too late. Alts have already corrected deeply and are close to the bottom. They are going down less and less.
Each day exactly on schedule there is a bear started wave of extensive selling on BTC and altcoin markets. It has happened so many times for the last month now, that I am already used to the blood.
Mlnklkm
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So when we go 1350 for us aspects
RogueDave
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From a price perspective I agree, BTC is the ruler of the price kingdom. From an infrastructure perspective ETH and smart contracts built upon the blockchain, are crypto version 2.0. BTC will not always rule the roost. Something will come along and displace ETH & BTC to enable transaction processing speed, further enabling cryptos to move into the space held by VISA & MasterCard, who can process 10,000's of transactions per second. That is where crypto needs to go to truly compete in the currency space. Will that be the result of a BTC fork? Maybe eventually, but it's not on the current roadmap.
Bulljim
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I reduced alts by 70% into btc and cashed out half my btc last week
Each day exactly on schedule there is a bear started wave of extensive selling on BTC and altcoin markets. It has happened so many times for the last month now, that I am already used to the blood.