So, right now, Bitcoin does look a little bit shaky. The important price level to hold right now is $61.7K which is where the daily trend indicator line is located. If Bitcoin were to close below that today, there is a fairly high risk of more downside to come.
What does this mean for altcoins, give me your thoughts?
I personally notice that some Altcoins tend to follow the price movement of the bitcoin though it can be lagging sometimes....while there are some altcoins that correlate negatively..e.g when bitcion rises,they fall,when bitcoin falls,they rise...
yeah, I tend to agree, unless Bitcoin is plummeting, then everything goes down, but if there are only smaller pullbacks for Bitcoin, many altcoins are generally stronger, especially by the end of the 4 year cycle.
I agree with this..
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