Why is it that bitcoin, bitcoin cash, eth, and ripple are now all moving in the same direction. I thought they were antagonistic?
(1) They've been moving in the same direction this entire year, and longer.
(2) More money is flowing into the market; 670 billion is a tiny amount of money. It needs to be trillions before any major losses.
(3) There are multiple roles for coins - they need not directly compete.
Truth is, sometimes they are antagonistic, and sometimes they are not.
You still believe in $5500? How about $8000? Maybe it will happen, but first 20k at least.
$8000 would be a target for any drop in the short term. It might not reach $5500 til later. If it goes into a 2011/2014 style extended bear market it could even reach $3000 after a year or two. Yes it could go higher first too. The lows arent based on the highs, they're based on previous ATH.