Quote from: tygeade on April 15, 2021, 06:26:52 PM

Quote from: Silberman on April 15, 2021, 03:13:44 PM

We were very close to reach 65k as a new all time high, this should show us that bitcoin is always going to surpass our expectations, however we cannot deny that now the altcoin market is giving greater profits than bitcoin however even after the current growth that those coins are going through they are still underperforming against bitcoin and I do not think this is going to change because even with the current surge in their popularity institutional investors still do not care about those coins.

I'm expecting to be testing $70k as next milestone before we will be seeing any possible correction. Because, I'm sure some institutional funds are entering into bitcoin market and this is the reason we are currently holding strongly above $62k price levels. Also I read miners started to hold rather than selling mining rewards time to time to cover their expenses.

I do not agree that altcoins are getting us bigger profits because there are many altcoins are there and we cannot be sure about to invest on which one. But, if we are good at finding the right one then we can enjoy greater profits in short run but bitcoin is good in getting us steady profits in long run. So, I guess comparing bitcoin against altcoins in terms of return is not making that sense.

To me the numbers never lie, the bitcoin dominance has been slowly falling over the last months and it is barely above 50% this means that overall altcoins have been more profitable during that time, also bitcoin once again surpassed our expectations and now it is trading for a price of 55k, I really think that some people were caught using leverage by the bears and this create a domino effect and that is what created such an important drop in the price.