Altcoins Talks - Cryptocurrency Forum
Learning & News => News related to Crypto => Topic started by: sirty143 on July 22, 2018, 12:49:09 PM
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Anyone unacquainted with the cryptocurrency market might assume, casually reading the price of bitcoin in their morning paper, that the past seven days have been good for investors. BTC is up 18% in a week and is now hovering around the $7,400 mark. By any reckoning, that’s good going. But bitcoin’s recent show of strength belies turmoil within the crypto markets. Many altcoins aren’t just down in BTC terms: they’re dying a slow death by 1,000 red wicks.
Read more, https://news.bitcoin.com/altcoins-are-dying/
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Frankly speaking, the whole country is standstill, but I am sure things are meant to go up in coming time. So, we need to be extremely careful with how we work and it is important to keep eye on everything. I just saw this article about 2014 correction (https://www.asiacryptotoday.com/bitcoin-price-correction-compared-between-2014-and-2018/) with the one running now. It will be very important for one to keep watch on these things or else we could face a lot of trouble making money consistently.
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Anyone unacquainted with the cryptocurrency market might assume, casually reading the price of bitcoin in their morning paper, that the past seven days have been good for investors. BTC is up 18% in a week and is now hovering around the $7,400 mark. By any reckoning, that’s good going. But bitcoin’s recent show of strength belies turmoil within the crypto markets. Many altcoins aren’t just down in BTC terms: they’re dying a slow death by 1,000 red wicks.
Read more, https://news.bitcoin.com/altcoins-are-dying/
I think this dynamic will change if we get above 7800 on the daily candle close (provided the catalyst isnt an bitcoin ETF which could send bitcoin up thousands within minutes.... alt coins moon when people feel comfortable with the market, and its still got some major resistance to go before we can call the bear market over... I personally think this is pretty similar to March where altcoins bled pretty heavily as bitcoin went up in dominance but are setting up for a major rally provided we dont fail at this resistance level.
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The altcoins have been incredibly lost value in the last few months and they still don't look stable. If bitcoin breaks the 7800 resistance point, a recovery may begin.