Finally, a bounce.

BTC has been in purgatory for weeks, but as Americans return to work after a long holiday weekend crypto prices have mercifully turned higher. And it acted exactly as we had predicted. 

Don‘t Fomo though. 1 day candle looks very bullish, however we need more bullish signs for a reversal. DO NOT jump on every green candle, the overall trend is still down. A fifth and probably last wave of correction before a consolidation period is still anticipated. This is pretty normal. Bigger picture will be posted tonight. 

Yet, it's noteworthy how altcoins outperform BTC when the overall market is moving higher. Granted, they also get bludgeoned on the way down, too. This morning you're seeing gains of 5 times that of BTC, which is up a pedestrian 2.5% compared to Cardano (up 9%), ICON (10% higher) and Nano (a whopping 15%) over the past 24 hours. 

If you had an absolute conviction that BTC could move substantially higher in coming days, weeks, months, or years, we don't see any reason why you wouldn't pour all of your crypto investments into altcoins. But here's the dilemma: we don't think anyone can positively conclude that BTC inevitably moves higher. We like its chances to appreciate substantially, but with certainty, we cannot say. Some of the year-end predictions of the world's "top" investors and commentators are starting to look downright goofy.

We don't see how anyone in their right mind can tell people that BTC will be trading $50k by the end of the year, and keep a straight face. Be honest with yourself: if we're trading $10k on Dec. 31 that will be a huge net positive. And if we are, you'll want maximum altcoin exposure.

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