Bitcoin had caught the last couple of weeks, around 10.000 USD. Although the BTC price has broken several times the psychological barrier of 10,000 USD to the top, but could not hold up in the long term about it. This Phase, in which Bitcoin could not decide to have used the Altcoins and partial returns of over 100% within a few days achieved. It all looked for an Altcoin Season, which has been eagerly awaited. But the BTC price has missed the Party a shock, and most of the Altcoins back in the direction of the South sent. This process happened yesterday, as the is Bitcoin suddenly dropped to around 400 USD, and the 10,000 mark again below.
How is the Bitcoin exchange rate and the Altcoin Party? We can build on the success of the last few weeks?
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Platzhirsch Bitcoin: BTC on the sound
It is no secret that all Altcoins from Bitcoin to depend on. Some stronger and some weaker, but a correlation is all. BTC is a long Unit-of-Account in the crypto market. The prices of Altcoins are accordingly often expressed in BTC rather than in USD or EUR. Especially in the case of very cheap Coins, which are in the range of 1-3 Satoshi, is the representation and computation in Bitcoin makes the most sense.
Due to this strong dependence of the course of the Altcoin of the courses strongly depends on the movements and the behavior of the Bitcoin exchange rate. At this point, it is difficult to a rule, because the market often behaves differently than in the past. If Bitcoin falls, then the Altcoins tend to fall even more. If Bitcoin rises, then the Altcoins into USD, with the rising but often have to accept losses in BTC. As soon as BTC moves over a longer period of time sideways, it creates a lot of room for Altcoins that will outperform in this time, like Bitcoin.
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The Party is already over, but no Altcoin Season?
What’s next, but now? The Altcoin Season is over? The question is still whether we were ever in a Altcoin Season. Most of the Altcoins are still 90% from its all-time high. The short-term gains are nice, but up to the all-time high, it is still a lot more. In my eyes, there is no Altcoin Season, but a short-term Pump, quick take profits. Because at the end of the Altcoin market is relatively illiquid, and can be manipulated by relatively small sums of money in a certain direction. Due to the strong increase in more and more investors become aware of it and also try your luck. This FOMO (Fear Of Missing Out), the mood is exploited by the Whales, their Altcoins to the small investors to sell expensive more.
I think that an Altcoin Season is only then, when Bitcoin reached a new all-time high and the potential has been exhausted already. Only then the money will flow ’sustainable‘ in Altcoins, even there, utilize existing potentials. So it was at least the end of 2017. In the end, it is probably Most just to increase his Bitcoin number. Altcoins are often used to speculate in the short to medium term. It is also said that a correction after an increase of over 100% is quite likely. Thus, the current correction is a result of ‘logic,’ and not only the negative Bitcoin movement.
Bitcoin Halving brings positive Momentum for the entire market
It is probably out of the question that currently, the Bitcoin Halving is sold as a bringer of salvation and, accordingly, the BTC price is in a positive Momentum. The Halving has a huge impact on inflation and, therefore, the supply of BTC. Therefore, this event is considered bullish. However, with these positive expectations to the BTC Halving, are also rinsed with Altcoins is high, the benefit from this Momentum also. Often it is but a simple Pump & Dump scheme, which is exclusively driven by Manipulation and speculation. Therefore, it is research all the more important, precisely before investing blindly in any project. In other words: It is very much the sound and smoke is still out there in the crypto-roads.
As it is now go any further, is difficult to answer. All eyes are on the Bitcoin exchange rate and wait to see if the $ 10,000 USD can sustainably be broken. The Halving is probably one of the most important price drivers, and will provide in the coming months for some exciting movements in the market. As the Altcoins are cut off, is currently still unclear. You should not weigh yourself, however, currently in safety, because the Altcoin Party is not compulsory, but can be reversed suddenly. It continues to be exciting.
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