A certain group of people feels that writing about BTC isn't good for the chain, as it's not promo enough for Hive. But unnecessarily focusing on promo rather than allowing people to write what they want is to wrong way to go, and I hope they get the message. The elephant in the room: BTC has hit 50k. It has taken a lot of *ups and downs and a lot of nibbling and crawling from 40 to 49k and finally it's crossed it.
A lot of credit must go to the spot ETFs and while it could have easily capitulated after the approval, everything seems to be going on really well. To be very honest it doesn't feel monumental, but for us to be at 50k even 13 to 17 months before the peak of the bull market it's a testament to the fact that the market will do so many big things at the peak of the bull market. I feel that the bull market will peak 15 to 17 months from now.
Now I'm not trying to say the surge will continue from here, infact in days to come there might be some corrections. This means that we might need to see 55k for the correction to consolidate at 50k. This might take months to happen, but some prices exactly predict the outlook of the market and the potential we might see. Now, to the second elephant in the room: altcoin.
Altcoins are not doing so well, but you can notice the little gains here and there, but nothing too much to really be happy about. The gains are not much for anyone to take profit. This is even more frustrating because a lot of people are itching to take profit, they're on the track waiting to hit the "run" button immediately after the gun blasts, but the alts aren't seeing any run that is noticeable enough to create any attention.
However, the reason why everyone should be happy for BTC even if they don't hold it is that the alts will catch up, and some alts will even go on a bigger run than BTC is currently doing. We saw this pattern in the last bull market. However BTC is solid and hitting 150 to 170k might not inevitable, but there's a bigger guarantee on BTC than any other coin out there.
Personally, I think the market will peak in 17 months, maybe a little more than that. However, whether the market peaks in 17 months from now or not, that time frame is good enough for anyone who is willing to make profit to do so. A lot will happen between now and 17 months, but targeting a time frame helps you to be conservative rather than being greedy. So BTC is cracking and do not let the fact that the alts are crawling discourage you, take the market vibes and the positives that come with it, and keep prepping.
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I think everyone should be happy towards BTC because if BTC were to crash, all crypto would be affected. I think Hive and the altcoins will take time to pump up and that is when the BTC peaks. That won't happen for a while and I think BTC doing well helps all of the crypto space.
Exactly, the gains eventually translates to all altcoins and it might take some time to establish on other altcoins.
The thing is that you can’t want to see alts blow without first waiting for BTC to blow. That’s just not how it works. I’m not much of a BTC fanatic, but for even me, I still feel excitement watching the gains on BTC recently. It just gives me a glimpse of what to expect when alt season comes.
BTC's gain is all alts privilege. Although I saw a post where someone says hive will not hit it's ATH again, let's wait and see though.
Open free speech is good for this chain in my opinion. Such folks remind me of the same kind of people that blocked an open discussion of the block size issue prior to the eventual BTC/BCH fork. So long as they keep down votes out of it they are welcome to their opinion. ;)
Well I've been downvoted for writing about BTC before, so yes. These guys do not represent the chain, they're just a faction of people who wants to determine who gets what and when they get it.
I think yes because BTC is part of the crypto ecosystem with altcoins, BTC's gains can directly or indirectly influence how altcoins grow and expand. It's kind of frustrating to see BTC sprinting while altcoins continue to crawl, but I guess we have to detach a bit from the present and think a bit far ahead.
Well let's wait and see if BTC's gains will do so in this bull market, as I've even read someone staying hive won't touch it's ATH again
I've also read those a couple of times and a few of them were quite convincing. I think these predictions are based on present variables which could change in the future.
It has been great to see Bitcoin crashing back to 50k. The higher it goes, hopefully the better the alt season too!
Yeah this is it. The higher it goes the better for altcoins. I even feel some altcoin might outperform BTC, but it's good to see it going up.
Swings and roundabouts with both, good BTC is going up again after side way/stagnant movement for a long time.
Alt coins trail, ETF's I am cautious of, economy is upside down everywhere.
Well we might still be in the range of sideways movement till Q4 for BTC, however it's still good to see to see what might potentially be, in about a year's time
Quietly watch and wait, take profits when you feel the time is right, it's your earnings.
Oh, I'm more concerned about my life and wellbeing health wise. This is just for content sake, as I'm really not obsessed with the market at the moment.
Taking care of health and well being far more important, good to sneak peek once a week.
I believe seeing BTC surging right now is good for altcoin even if we don't feel the impact yet, it is something that will have a positive effect in the long run.
That's the message, I think we're going to be seeing the alts reacting as soon too. It's a good outlook for BTC, hopefully it'll reflect with time on the alts
Yes, I agree with you. It might come late though as it couldn't be compared to the last AlTs season.
Oh, I'm more concerned about my life and wellbeing health wise. This is just for content sake, as I'm really not obsessed with the market at the moment.
Edit: the last alt season was good.
I do hope all is well with you.
Seeing btc hitting 50k brought me a feeling of elation and hope. I hope this minor bull run will continue not just btc but also the alts. Now is the time to Hodl as much as possible. Thanks for writing and have a great day.
Yes, it gives a lot of people joy as well.
Btc surging is a good thing for Cryptoverse, it brings the needed awareness which will lead to exploration of the altcoin industries. You don't need to hold BTC to understand this.
Exactly, it's a good thing
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Let’s see how it will go. I hope the bull goes on for a while and does not deceive us like the previous one, lol
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