My trouble with tj Bitcoin dip is how it so hugely affect alts.
Would alt coins every breakaway from Bitcoin price effect?
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My trouble with tj Bitcoin dip is how it so hugely affect alts.
Would alt coins every breakaway from Bitcoin price effect?
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Not anytime soon. At least not a move like that. We usually drop 80% after every bull run so 69K high let’s round up to 70K. That’s around 17K bottom. That would be the norm. I’m not saying we are going there, just that would be the norm historically. Last time we bottomed at 3K so 17K would be a long term much higher low as 3K was to just below $200 in 2015 the prior bottom.
Wild card now we have real heavy inflation and other geopolitical issues. So who knows but it’s definitely possible.
I think the flight to BTC isn't about geopolitical issues but more about safety. Just like how the stock market sells stocks to get cash, crypto people flock to BTC when things are tough.
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Bitcoin is the safest, Makes sense.
Well you have to look at btcoin like the US stock market or the major trading indicators, when those indices fall so does everything else in the world.
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It could in the future but I don't really think it will change anytime soon. As it stands right now, BTC is the crypto with the highest market cap and everyone runs back to BTC when things are tough. Also it looks like almost every single major crypto has a BTC trading pair.
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