The fact that people are increasingly aware that ALTCOIN season won't happen this time puts us on the line too... Proof of this is in our beloved Internal Market, where sell orders are overwhelmingly accumulating at low prices while the willingness to buy is decreasing on the right side.
This is even more pronounced in the following chart...
It's a shame, but the reality is that everyone is moving towards either BTC or stablecoins at this time.
Either overwhelming news will come soon that incentivizes the purchase of altcoins, or we're going to have a really bad time, IMO.
Hang in there!
It's too bad, but I still believe in Hive. I got some buy orders for Hive if prices dip.
When too many people do something, those who do the opposite are probably on the right side, “Bitcoin only” is a maxis’ myth.
agree
We got too many extractors on hive, they get rewards and sell immediately all the hive, until we don't get rid of that it's harsh
I fully understand the argumentation. Though I do not fully believe it. „Thos time its different.“ is often misleading. As said, altseason won‘t be as big as four years ago but we will see some kind of it over the next few months imo.
What would be the argument for that?
At some point when Bitcoin has hit „decent ATHs“, 130k, 150k, maybe even more, the mainstream/retail buyers will come back again (like in Jan/Feb). Many will think they are too late for Bitcoin and buy Altcoins. And some BTC whales and bigger Traders will ride this wave too. Cash out BTC Profits and then reinvest in Alts to make some additional quick profits.
Liquidity will also come back once the macro FUD (Tariffs, Israel-Iran) calms down, Fed finally cuts rates again.
All this is still in the pipeline and makes me somwhat bullish for Alts. Not hyper bullish but there will be another push higher.
Makes sense in your view?
Ok, you’re describing what happened before but we are late already in the cycle, will see.
We still have until end of the year if we calculate the „classic way“ though I think the extreme cycles are changing to more moderate ones since volatilaty is decreasing. Saylor had a very good graph showing that last week. Have you seen his presentation? Will do a post about it tomorrow.
Maybe what we need to do is to chuck money at people who spend HBD on lattes in developing countries, that'll sort out the sell pressure...
Oh hang on....?!?
Are you joking?
You're not secretly American are you? That was OFC 100% sarcastic!