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RE: Bitcoin / crypto market cap up or down? And Ripple's shadiness
Hi @dafamousdj I like your positive approach to crypto market updates, great work, keep it up!
Is is just interesting to clarify about your prediction of market cap $115B. As you probably based your prediction on some calculations, I have the following question. How do you think which group will lose more % of its current cap: TOP-3 established cryptos (Bitcoin, Ethereum, Litecoin) or the rest of cryptocurrencies? And thus will the coming weeks be a good time to buy smaller altcoins using Bitcoin (it is more or less safe to assume Bitcoin should stay the strongest of those three established cryptos during this downward trend)?
@w-w-w thank you very much! Sorry for my late reply I wasn't in the opportunity yet to respond back. If you look at the RSI at the time I made the prediction Bitcoin was just over bought and based on the previous drop I just had a got feeling that 115B +/- 10% would be the range to drop. With regards to your question on the rest of the cryptocurrencies, I think the market has answered that one :)
Yes, you are right. The only thing I am not really sure why Litecoin was decreasing on such a high rate. I thought it was kind of established cryptocurrency, but for some reason Bitcoin/Litecoin rate was so low yesterday. Some smaller cryptos were staying stronger than Litecoin, strange. The only reason I see is that Chinese (very addicted to Litecoin before) were actively selling it yesterday.
Anyway, after all the events yesterday I need to admin, your prediction about market cap was really good.