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RE: Bitcoin (BTC) Morning Update: Be Very Cautious!! Even with All Time New Highs Expected!!!
Hey Haeji for once would love a reply. I have to understand something, if BTC is due for a sizable down trend like in the graph above and we know that when BTC bleeds alts bleed how is it possible that all the other graphs do not correlate with BTC future prices?
I believe while BTC takes the time to reach $7,200 or so, Alts will make their moves.
I call it phasic (in phase) and non phasic to BTC. Currently, Alts are in phasic.
That's my question as well. Will altcoins go down along in bitcoin downturn? Do you recommend to exit all coins & stay in cash soon?
If the bitcoin correction is of the magnitude that Haejin is suggesting, I would expect all alts to drop considerably and many to blow up completely. He is suggesting bitcoin dropping ultimately to under $500, that's a 90% drop. If that happens, the vast majority of people will back out of crypto entirely, especially those who only bought in recently. People will lose there shirts. There will be blood on the streets etc etc. That's when to buy back in! Buts that's if.....
never rely on possibilities. only probabilities
I like that!