Quote from: Torque on Today at 04:00:16 PM

Quote from: OutOfMemory on Today at 03:14:29 PM

Quote from: AlcoHoDL on Today at 03:10:12 PM

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But the lack of proudhon posts is not a good sign.

And the current 15-min chart is mental torture...

Looks like most is going into Vitalik's shitecoin.
As usual, it will flow back later.

Most people don't realize, it's the ETH market that the traders play now. Bitcoin used as a lever.

Indeed, always has been always will be Grin

It doesn't even matter that the chart looked like (looks like) shit to most, the relevance is that like Bitcoin's price, it's market dominance has been on bull run for the past year, and as always, it was never going to last long-term or be sustained. I'm still dubious if altcoins are really going to have a rally here, but it looks like they have about a years worth of trying to catch up at a minimum.

To clarify how it really works; the smart traders stay the fuck away from shitcoins when Bitcoin is pumping - ie for all of 2023. The irony being there are many shitcoins that have doubled in value in 2023, meaning they are only went down around -35-50% against Bitcoin. So there remains a lot of opportunities for shitcoinery, when the concept of a "missed pump" doesn't apply if you were holding Bitcoin, because you can still buy shitcoins at the same fiat prices as 2023 using satoshis, obviously with the intention of increasing satoshis, with fiat values becoming completely irrelevant, it's all about Bitcoin value.

That said, I'm not convinced about a new altseason, it'd require Bitcoin to stabilise and consolidate sideways for a few months. Any dump below $40K will likely have the inverse effect, and Bitcoin's market dominance will simply continue to grow. But ultimately, people want to speculate on coins that are still down 90-95%, as opposed to -35% like Bitcoin, because there is much further upside potential. The shitcoin market is such a filthy arena that you only need 10-20% of trades to go as planned to increase your Bitcoin stash. Pretty sure a monkey or ape could out-trade most of Wall St to be honest.