With the bull run just getting out of the starting gates, it is heartening to see that this time BTC has NOT charged ahead and left the alts in the dust. To a degree the alts DID lose out in the final phases of the big dip, BTC lost less ground than what they did, so it is still "ahead" in the medium term.
Ever since early January when the alts really surged ahead, the crypto market in general showed that it is a force to be reckoned with. With or without BTC. It will be interesting to see BTC market percentage at the top of this next climb.
Indeed. I think there we will see another parabolic move at some point with Bitcoin. I still believe we'll end up a bit lower first before we see that.
I would argue that we are still in a parabolic run. Have a look at the second last chart in this pic (the long term chart trend line) of mine from two days ago. https://steemit.com/bitcoin/@bitbrain/crypto-markets-march-2018-up-or-down
Just had a quick look and agree with you. The fact that you've traded stocks for a significant period of time and don't write like a crypto moonboy means I have given you a follow. ;-)
I think we will test the support/demand level at around $5500 which as you said was established on 12 November. From there, a trend reversal is entirely possible
Well, it's already been tested. Sort of. I wrote that post based on BTC charts because I lacked the tools to do it with total market cap. While BTC didn't hit the same low low, total market cap DID. In my shorter follow up post yesterday i wrote about BTC no longer being the dominant factor, we should rather be looking at total market cap. Give it a quick read if you have the time.
(No that's not me just trying to shill my post :) )
Ah, interesting points. I'll 100% check them out tomorrow
And I followed you in turn, not to reciprocate, but because I have a keen sense of humour and I just read your description! :laughing: