Look around you guys. All your favourite altcoins are crashing like crazy, and there's nothing any one can do about it.
But why is this so?
Simply because Bitcoin has crossed the $10000 mark, and closed above it. Therefore, there is a lot of FOMO for bitcoin, and no one really wants to be trading alts anymore. So they all bounce over to trade Bitcoin.
However, they sell their alts for Bitcoin to have enough money to trade BTC.(and mostly lose their trades anyway). Once they pull their money and one alt dumps, the whole market believes that alts are crashing, and would quickly sell all their holdings and get out to be safe.
This causes a "ripple" effect of some sorts on alts, and they begin to fall together.
This happens for all altcoins. Whether they just got listed, or they just pumped to the heavens. So do we buy this alt blood?
We've been told to endeavour to buy the blood of altcoins. Because buying the blood is cool.
Howeve, this time is very, very different. This time, we can't (or shouldn't) try to buy the blood, because of something called a CME gap.
There's a gap somewhere around 9600, and CME gaps ALWAYS get filled. Therefore, there may be a dump to 9600, which would wreck alts AGAIN. Yeah, that's not very sound.
So what do we do?
We'll, absolutely nothing. We wait for this carnage to be over (could take weeks) and then begin to buy the blood of our favourite alts. These coins would be dirt cheap, and could very, very easily pull a 2x out of their pockets.
We should however note that once BTC has passed the 10.5k mark, that signals the BEGINNING of a new altseason, rather than the end of one. Because that would bring FOMO into the market, and everything would pump. Literally everything.
I've seen that in 2017, and we'll probably see it this year.
For those that recall, my BTC predictions for this year are $12k and possibly 15k. No crazyness here.
That's my article! Thanke for reading.
