Just spent the last few hours moving by BTC into Alt coins and it seems to be going very nice. But the thing that is bugging me is when might be a good time to move 75% back in to bitcoin.
I am wondering if this could be just a 24 hour pump or if Alt's like Neo , OMG and VTC will continue up over the next few days or weeks. I know that the Asian markets should kick in soon so i am hoping that should keep it going for a few hours.
What are people thoughts on the time frame of this lovely HI Buy HI Buy for the Alt market ?
I guess, pumping is the wrong word here.
Altcoins just recover. Over the past few weeks a lot of capital has been transferred from altcoin market to BTC (
https://coinmarketcap.com/coins/), because of upcoming fork.
Now where fork is cancelled, altcoins start recovering. This will take 1-2 days.
Please note that BTC rate dropped only slightly, therefore not much capital has been transferred back to altcoin market yet.
The BTC dominance decreased sharply during the last 6 months, as altcoins become better every day.
Then this trend ended because of the 2 forks. Now this trend will probably continue. We will see BTC dominance below 40% within the next 2-3 months.
https://coinmarketcap.com/charts/#dominance-percentageAnother important (short-term) point will be the news, e.g. if they set a new hard fork date tomorrow, which isn't that far in the future, BTC dominance will of course continue.
If they say tomorrow that B2X is cancelled forever, altcoin rally will be much faster.
Of course it also depends on the altcoins you hold/buy.
Some shitcoins hopefully never recover