I really don't understand anything. Many alts have gone 10, 20, 50, or even 75x in the past months while Bitcoin has done "only" a 2x and when we have a correction it gets linear to all cryptocurrencies. I expected the altcoin bubble to pop and start blowing into bitcoin but I am not seeing that yet.
I don't know if I was wrong or if that has yet to come.
What do you guys think?
I have been holding (my non-trading little stash) since 2013 so I will keep doing it no matter what but I am a bit confussed at this time.
You are correct that the correction of alts seem to be at a similar level as the correction of bitcoin..
In other words, alts are still in the pumping mode, and they may get pumped for quite a bit longer than bitcoin.
Ultimately probably bullish for bitcoin to have so much money flowing into the crypto space, even though a bunch of those alt projects are smoke and mirrors vaporware..
It is not inevitable that the money will flow into bitcoin, but it seems pretty decent chances of such flow into bitcoin...
Could take several months to play out and maybe this pump of money into the space will bring bitcoin to $4k or $5k and maybe could cause additional pump and maybe se get a crash down to $2k and then back up to $10k to $20k zone.. and maybe at that point the gig will be up for some of the alts. They can only play those alts for so long, right?