I was in my room when one of my crypto apps alerted me that btc touched $69k. I am not even surprised anymore because btc has been moving so differently lately. I don’t know what to expect from all these spikes maybe I should expect the bull run or I should just keep looking at the market without putting my hopes high. I know many people will be feeling this way and even if btc reaches 75K today, most people won’t be surprised because it's recent Spike doesn’t have any major effect on the altcoin.  The question is, should we be concerned or the market is just playing out differently?
Surely, the market will change at a point but it is confusing now. Some people are already happy because they are already in massive profit. Those people who bought btc at 15K will be smiling or if you invest in meme coin, you don’t have any problem with the present market but for those who invest in altcoin the story is different. Even if we are not in a bull market the price of BTC should be reflected around altcoin and the higher btc price the price of btc but that is not the case. The turning point for altcoin is what everybody is waiting for. I saw a theory online about btc that might make sense because this present market has left everybody guessing.
The btc-eth theory
If you check this chart, you realize that ETH against btc is still in a downtrend and it is the same story for all altcoins. The main reason why ETH is very important is because it is the most valuable and the strongest altcoin out there and what the theory is trying to propose is that, immediately there is a change in the direction of the ETHBTC market, It also means there is a change in the market. What I mean is that when the market changes from a downtrend to an uptrend in the ETHBTC Market, we are automatically in the bull run. Like I said, everybody is confused and we don’t know what to believe anymore but one way or the other I just feel that this makes sense.
I believe that people are using these theories because most indicators that people normally rely on are not working and even the popular October which is normally in an uptrend is showing something different. This indicator is great and when ETH starts showing a strong movement against btc I think that should be it, should be a sign that something different is about to happen in the market. I’m not saying that this will work but it is not a bad theory to believe. I believe this is the best bearish market in the history of Bitcoin because it allows everybody to invest in something. This is not financial advice. Please do your research. I’m just sharing what I saw online.
Thanks for your time.
Posted Using InLeo Alpha