BTC Breakout imminent

BTC Breakout imminent

altcoiners, you know what this means

What? I'm a brainlet, please explain.

That means alts are going to pump soon after, when BTC comes back down.

It means if you're an Alty then you need to spread dem cheeks wide.

Means btc is going to bleed alts

Bitcoin breaks out of the actual momentum, speaking of 7.1 - 7.2k and reaches 7.3 with a possible breakout to 7.5 - all alts are falling, you sell your alts, wait until btc becomes stagnant again and buy back cheaper

>Bitcoins goes up

Alt coins go down

>Bitcoin goes down

Alt coins go down

It means Bitcoiners are so deluded that they think BTC price will continue to go up forever. The smart ones jump the sinking ship but there are enough biztards that will go down claiming BTC is still the king.

But why does it work this way?

I'm reading that since I'm buying Bitcoin, back when you got 1 for $200.

>Hold Bitcoin, price goes up - for example - 100% a year, sell 10% that year, repeat
>rich

Can't sign my message with core here, Veeky Forums should def change the spam detector in Veeky Forums wish I could show you yummy 472 btc

>Breakout
have you considered the low volume?

not everyone is as fast as Veeky Forums, I'm ready for another FOMO to 7.5k in a couple minutes

>even a possible breakout and all alts instantly kneel, kek

Shitty day today, Bcashtard?

we ain't breaking 8k.

btc will go down from here. breakout means break of trend. in this case, the breakout means that bitcoin will start trending down. to the alt holders, hear my warning. once btc goes down, resist the instinct to trande your alts for btc. this time it's going to be different. alts have a more established market. the flippening is going to happen. you don't want to be holding btc when it happens. you've been warned for the last time. hold digibyte.

Phewwww dodged a bullet there.
Good thing I dumped all alts I can't afford losing another moon mission.

>up over 700% this year
>sinking ship

that's the absolute worst advice I've seen here in a long time

>alts have a more established market

???????????????????

>>>>>>>>third-world

OP CALLED IT!

then it's probably the only one you should follow.

>hold digibyte

easy to read that graph. I tell my 2 alts I hold regardless of btc mooning, but first tell me why you're worthy of that information

yeah, that's right. alts actually have real world usage, a market with real investors. all bitcoin has is artificial scarcity and a highly inflated price, which is inflated by exchanges which hold 95% of the bitcoin, since the transactions are too slow and expensive for people to be sending btc to actual wallets. you are all scammers and shills, and i hope you suffer in this life. get fucking rekt bitcointardos.

I bet you define the price of your alts with USD, right? R-Right?

It's more subtle than that, when bitcoin rallies, alts get sold to buy btc. When btc drops quickly, the whole market shrinks from selling to fiat. When btc is slowly rising or falling, the market is more dynamic. Ethereum seems to be one of the few that aren't locked into this pattern.

Getting there, slowly but surely

Alts don't get pumped with fake Tethers by Bitfinex, that's why.
That also explains those sudden pumps out of nowhere on very little volume.
Normies then start to fomo-chase the pump.
Easy as that.

>BTC is going to breakout guys, I swear!

1. People margin short
2. Bitfinex prints Tethers and buys Bitcoins with them
3. There is a green candle
4. People buy Bitcoins
5. Shorts are liquidated
6. People margin long
7. Bitfinex dumps
8. There is a red candle
9. People sell Bitcoins
10. Longs are liquidated
Return to 1
This has been going on since March.

Soonish...

It's not bitfinex, it's the whales, you utter moron.

should I buy alts (ETH/XVG/BTH/FTC) before the break? While BTC can get lots of the alt? Should I hold on to as much BTC as possible after a dump hoping for another revival?

If BTC dumps again, will the recovery be parabolic? If it follows the 3 month pattern I'm noticing, it'll likely be closer to 12k~USD at it's next peak (in abouts february).

So should I grab altcoins now, bet on their growth, until they've reached a (relative) high, trade back to BTC while it dumps, and watch it grow back up?

Or will the altcoins not grow while BTC dumps? Will ETH still be ~300USD if BTC drops to 6000 in 2 weeks? Or will ETH be down 200? up to 400?

>It's more subtle than that, when bitcoin rallies, alts get sold to buy btc. When btc drops quickly, the whole market shrinks from selling to fiat. When btc is slowly rising or falling, the market is more dynamic.

This is 100% correct. To go deeper: People buy bitcoin when it's making any price movement because they want it that much to always trust it. People buy a rising stock because they think it has higher to go and people buy a falling stock because they think it's become underpriced. The common thread between these types of people is that they equate price movement with interest and therefore value. How do they buy or sell? Usually trade other coins for it (altcoins).

In a way, people have been looking at crypto coin purposes incorrectly for a long time. Bitcoin isn't the 'core currency' between everything, it's the property people want. Altcoins and Fiat are the only currency.

bitcoin is a commodity at this point. everything else is the currency we use to trade/value it by.