Post
Topic
Board Speculation
Re: BTC & Altcoin Market Update: Bitcoin sets lower high, altcoins rallying
by
Baofeng
on 26/05/2020, 22:56:16 UTC
Latest in weekly TA series on BTC can be found here:

https://www.cryptoadvocate.net/post/bitcoin-altcoin-market-update-24-05-20

Main takeaways are that while bullish, BTC has failed to set a higher high and is still in weekly downtrend. Meanwhile, Altcoins are making large gains vs. Btc.

I'm not seeing altcoins making large gains vs BTC though, with when its goes, it ALT goes down as well.
So there is still correlation obviously so I don't think that ALT can move big without BTC pulling them up.

Unless those altcoin are being used to be pump and dump, or they are hype around that altcoin, like new releases or listing on top tier exchanges. So I doubt the theory that they are going to make large gains vs BTC in this kind of setup that we have (sideways with some small break out).