Bitcoin didn't break out, yet, leaving room for an altseason...
Do you see it?
If you look closely at a chart of bitcoin over the past several years you will see that it is in a giant triangle pattern.
With lower highs and higher lows the entire way...
Check it out:
(Source: ~~~ embed:1259514113086107651) twitter metadata:cGFkZHlzdGFzaHx8aHR0cHM6Ly90d2l0dGVyLmNvbS9wYWRkeXN0YXNoL3N0YXR1cy8xMjU5NTE0MTEzMDg2MTA3NjUxKXw= ~~~
As time goes on, we get closer and closer to a resolution of that triangle pattern.
Which direction it breaks ultimately will determine which direction bitcoin trends next.
Given that we just went through a halving event, the odds on favorite is a break to the upside and a substantial move higher.
In the near term we may be seeing a Goldilocks period for altcoins...
The conditions for an altseason have to be just right.
Not too much bullishness or bearishness from bitcoin, but something right in the middle.
Something like sideways range bound action might be just what the doctor ordered.
If that is indeed the case, and we do experience that in the coming weeks for bitcoin, we have all the right ingredients to see HIVE and altcoins to rather well.
What do you think?
Do we have the making of a Goldilocks market for altcoins?
Stay informed my friends.
-Doc
we WILL see the altseason, sooner or later
I bought more Hive, now altcoin season can start... lol...
Nice. I moved some to the exchange just in case we see another leg up in the near future. The chart is all setup, just needs a catalyst...
I pretty much used all profits I got from ETH price going up... Now I should have about 20 EUR worth of ETH left...
I powered up all HIVE I got so hopefully I see some returns.
It's the mass delusion that fires up altcoins. When too many people use Bitcoin for transferring funds, the network fee goes up past the critical point and people stop transferring Bitcoin and resort to Ethereum and altcoins instead...
What we need is more developers to write games and websites that allow payments with altcoins... There was a lot of sites that accepted Monero, but somehow nobody talks about Monero anymore when it comes to replacing Bitcoin.
LOL I had that view a year ago.
It didn't happen.
At some point, the Alts will pick up some steam.
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Altcoin season doesn't happen every year... I waited for it a year ago too...
Maybe 2020 will be the year...maybe 2021.
Ultimately, I think it comes down to utility so when there is enough infrastructure, we will see things move.
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I've noticed that during the pandemic people have been less and less online... That might delay the altcoin season as there is less buyers to push the prices up...
Which is odd since people have more time than they did before.
Maybe they are all binging on Netflix.
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I already finished watching all the available Star Trek series backwards... The newest one is not on Netflix, only on Amazon...
It would be nice to see.
This is something that is long overdue.
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I think Bitcoin will become a store of value, while what will really be used in life will be AltCoins.
Bitcoin has never been anything else than store of value. When it was still useful for anything else, most of the people didn't have even heard of cryptocurrencies.
Alt season has been pending since a long now hope that comes soon