Hello there. As you may know, alt season is about to take place. Usually, as seen by past trends, there is a major correction in the price of bitcoin when the alts explode. When that correction happens, do the prices of the alts also fall before shooting up?
Regards
I doubt it's going to be like in the past.
It used to be that alts where pretty much exclusively traded against bitcoin.
So if the price of bitcoin went up alts went up with it. And alts could go up against bitcoin at the same time so it was a volatilty built on top of volatility.
Now alts need to have a little bit more merit.
I am hoping for an alt season. Don't get me wrong Bitcoin is my number 1, but I have nothing against a future of many coins for many different uses and users. I believe that crypto will cause a lot of different economic networks to co-exist in the future.