The Future of Altcoins
Many folks have been proclaiming that alts are dead.
Despite this current wave of sentiment one needs to consider the following:
1. Exchanges have incentive to list altcoins.
2. Users have incentive to buy altcoins
3. Miners have incentive to mine altcoins
Why is there merit to thinking that BTC dominance will rise to 100%? Seems unlikely.
In my opinion the altcoin market will continue to grow at some percentage of the total BTC market. According to this chart
we could see a total altcoin marketcap in the 1-3 Trillion dollar range in just a short amount of time.
Despite this current wave of sentiment one needs to consider the following:
1. Exchanges have incentive to list altcoins.
2. Users have incentive to buy altcoins
3. Miners have incentive to mine altcoins
Why is there merit to thinking that BTC dominance will rise to 100%? Seems unlikely.
In my opinion the altcoin market will continue to grow at some percentage of the total BTC market. According to this chart
we could see a total altcoin marketcap in the 1-3 Trillion dollar range in just a short amount of time.
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Purple Haze
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According to this chart, some alts might be absolute bargains during the next few weeks.
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it was around these relative price levels that the previous fractal reversed.
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Reversal right on cue.
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And flash crash right on cue lol. This fractal is surprisingly accurate.
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This fractal approach has held well, alt reversal appears to be on it’s way.
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Next candle will let us know if we are invalidated or not. Must admit its not looking to good but this is crypto, anything can happen.
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Candle is green. Was this a simple poop n scoop?
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Dipped a tiny bit below trend but now looks ready to takeoff
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Looking good indeed.
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Super interesting fractal playing out
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ALTS READY TO FLY!!!???
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Such bizzaro market movement...def looks manipulated but who the heck knows. I expect a huge move up in alts in 2021
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The slope of this chart is remarkable.
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HOLD THE LINE