Altcoins are in trouble. What does this mean for Bitcoin?
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The ETH/BTC Ratio has just broken through a 3 year trend and broken down from the Weekly 100MA. This was a major decision point. This will have a negative effect on all altcoins most likely.
Could this mean a bull run for Bitcoin as people transfer their wealth into a more stable coin? If Bitcoin stays above 6000 that may be the case. On the other hand, if bitcoin plunges below 6000 we will see a continuation of the bear market for all cryptos.
Could this mean a bull run for Bitcoin as people transfer their wealth into a more stable coin? If Bitcoin stays above 6000 that may be the case. On the other hand, if bitcoin plunges below 6000 we will see a continuation of the bear market for all cryptos.
Commentaire
Possibly a good time to get back into ETH now. Either .033 or .024 are good entries. I am loading up now.
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