Theories on alt correction / BTC increase

Is it because everyone is trying to cash out their massive gains from this crazy alt run we just had thus converting their alts into btc to sell?

I would guess either to sell or so they have a more stable place for their holdings to sit.

Im wondering if this is where BTC will try to make its run to 20k and if so, how it will continue to affect the alts

I dunno, some alts are going to be making some larger climbs over the weekend and BTC might take a hit from it. I think the people that are banking on long term winnings from BTC are hoping and dumping into it with dreams of hitting 20k without a massive crash the next day lol

It's because of niggers

The alt bullrun only happened because BTC was stagnating.

Deep down everyone knows 99% of altcoins will be worth nothing in the end so they want to take their profits while they can.

We seem to do the best when BTC is trading sideways lol, anytime there is a rise or dip alts bleed for whatever reason. Like who the fuck would pull out of alts to chase bitcoin? seems like madness to me.

BTC jumped a measly 10% and caused weak holders to dump their alts and buy BTC because they thought it would be $30,000 on Monday

basically a BTC fomo, because BTC has barely moved since christmas

and BTC will stagnate again when people are reminded how impractical it is to transfer

this is why crypto will never work. whales have found a way to drain all the altcoin profits of an entire week into their pockets. its a flaw in the system and the fact that all altcoins are backed in BTC allows this.

Nobody is using crypto for transfering shit.

Most people probably never move their crypto off coinbase.

It isn't even this complicated

You have to realize your profits eventually or you won't have them

Here's my theory. The growth we've seen in alts depends on a constant stream of new money from new players. Bittrx and Binance both have stopped allowing new users. New money is stuck in BTC until that's fixed.

Not sure if I agree with that last sentence. Just based on the fact that sites like Binance cannot keep up with all their new registrations they keep getting.

Im hoping this changes soon once FairX launches with XLM as the trading pair.

If XLM could eventually replace BTC as the universal trading currency that would be fantastic

BTC goes up = alts go down, every single time

Seems like it failed to break resistance above 17k. Either back to 14 or it bounces of 15.5k. In the latter case it'll likely run into more resistance between 18-19

All my alts are currently rising again. I would have been chasing again if I would of sold my alts.

alts have very good odds of pulling back
btc has very good odds of running up

>buy stellar
>cash out 100x your investment comfy on fairx

i never bought BTC, i always use ETH

This.

Nice luger ;)

Oh I have no doubt alts arent slowing down for long. This happened just a few weeks ago. On the 18th everything nosedived about 20-30% and then traded sideways for 10 days. Then they all exploded to new all time highs.

Im pretty confident the same thing will happen here. We'll see a week or so of correction before everything launches up again.

If there is ever anything I would cash out for other than a market crash, it would be that luger.

>gold
>engraved
>.38 special
I hope you don't actually have such a beaner taste in firearms.

It's only because people want to cash out and there arent many options rn.

Abosultely not. 45acp is the only acceptable round for a 1911


(but i've kinda turned in to a 9mm guy the past few years)

Or you make a plan for such occasions. I keep 1/3 in Eth on normal days and more during bullruns when every alt I own peaks. Then when the inevitable crash happens, I double down on those alts, they recover 12 hrs later, and I have made money off a crash.

If you trade an ALT/BTC pair then it makes sense. BTC is worth more than the altcoin. It has less volatility and you can send it to another exchange without problems (if you wait). Alts aren't as safe.

This looks like a classic dead cat bounce to me, lots of people have been short selling BTC. When a lot of people close their short positions at the same time, they are BUYING back to secure their profits. This creates a boost in the price and all triggers other short sellers to close out or they get a forced liquidation. Bitcoin is on a down trend and I think it will slowly bleed out for the rest of the year.

bots

Saint Browning also gave 9mm his blessing with the BHP. Both are acceptable rounds.