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August 15, 2017, 03:39:12 AM |
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It's not done, but I'd definitely say the altcoin bubble is taking a breather. The vast majority of coins are going down at the moment, though that doesn't mean that they might not come back after this.
Bitcoin is going straight up at the moment, highly unsustainable. I'd imagine everyones ditching Alts for BTC because they don't want to miss out on the action.
Has alot to do with the market as a whole and not so much with each individual coin.
I've notice Altcoins & Bitcoin go through phases where they correlate & rise with eachother then switch to completely opposite correlation, with alts falling as bitcoin rises.
At the end of the day, both markets rise alot whether they are in lockstep or not. The question is: Is it over? Ik bitcoin has to be close to a proper correction. This is reminding me immensely of 2013, the jump from 600-900, small correction, then major jump from 900-1260... before moving downward. The difference is, this time everythings hunky-dory, no Mt Gox's & Chinese government bans lol.
I'm on the fence, basically.
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