Do not get me wrong, of course this is a great time for crypto. But apparently every single coin except very few is rising by 2-digit percentages right now.
This growth of course cannot be maintained, but can this even be healthy for the market as a whole? This is currently pumping up way too hard. We went from below $500B to $650B total market cap over the course of a few days. On the one hand this makes me happy, but I have a lot of doubts for the near future.
Thats just my 2c
Of course it cannot be maintained, this pattern has been seen before, and is normally followed by corrections. But it goes up and down at the moment, according to the inverse of Bitcoin. You can see the downwards pressure now on Bitcoin happening, perhaps this will sustain over the week. As long as it does, it will result in a general appreciation of alts. I can see now a lot of my alts finally FINALLY gaining ground, cutting my losses overall to below 40% from what I originally invested with BTC months ago.
Mixed feelings, but I guess if BTC has to go down again so I break even, even if BTC goes down to 15k I will be in big fiat profits above 20%.